Token, as an important part of blockchain technology, has gone through multiple stages of development from ICO to STO to RWA.

ICO (Initial Coin Offering) was once popular for its fast financing, but due to lack of regulation, it brought about numerous legal risks. Subsequently, STO (Security Token Offering) emerged, providing a compliant financing channel for blockchain projects by adhering to securities regulations. Today, RWA (Real World Asset Tokenization) has become the new frontier of blockchain technology, further expanding the application boundaries of blockchain by tokenizing traditional assets such as real estate and artworks.
In the development of RWA, legal framework and compliance become crucial. For example, the Centrifuge platform has successfully achieved the digitization and trading of assets by tokenizing real-world assets and integrating them into the blockchain ecosystem. #哪一个山寨币ETF将通过？