According to multiple sources, Binance may have to personally do RWA. Covering asset issuance, custody, subscription/distribution of RWAs. The model may be that Binance cooperates with some compliance institutions, such as leading brokerages and stablecoin giants, to custody and encapsulate some RWA assets (such as U.S. bonds, RWA asset investment, etc.), and launch RWA-like asset encapsulation products, which are open to Binance's 300 million users for a long time. Binance's purpose is to share the income from US bonds, the main collateral of stablecoins, with users through this type of product, and guide global funds to indirectly allocate US bonds through the stablecoin mechanism of the Binance platform on a large scale.