Understanding the Market | YUNFENG FIN rose over 5% recently after independently completing its first RWA project. The group appointed Jiang Guofei, a former executive of Ant Group, as the chairman of the Web3 Development Committee

YUNFENG FIN rose over 5%, as of the time of writing, up 6.75%, priced at HKD 6.16, with a transaction volume of HKD 408 million. In terms of news, on September 17, YUNFENG FIN announced that the group's blockchain technology team successfully tokenized the physical assets of the FOF (Fund of Funds) shares invested by its wholly-owned subsidiary (Real-World Asset Tokenization, RWA), issuing the first RWA project independently completed by YUNFENG FIN. This move marks another breakthrough for the group in the field of fintech innovation, further promoting the deep integration of traditional finance and blockchain technology. Notably, on September 18, according to media reports, YUNFENG FIN appointed former Ant Group senior executive Jiang Guofei as the chairman of the Web3 Development Committee. It is reported that Jiang Guofei previously served as the president of Ant Digital Technology Group, responsible for leading the blockchain projects of the fintech giant. This appointment reflects the group's advancement into cutting-edge fields such as Web3, which is beneficial for addressing many pain points in traditional finance, including cost, efficiency, and security