The current state of Solana's RWA ecosystem is worth paying attention to. According to data, XStocks has tokenized over 1 billion USD worth of stock assets through Solana. However, there is an interesting contradiction: although these assets are substantial in scale, they cannot obtain RWA certification because they are only traded on Kraken.

Even more ironic is that RWA products in Canton and other public chain ecosystems have no real restrictions on retail accessibility and can issue large-scale tokens at will, yet they have received certification approval. What does this reflect?

Currently, the qualification standards in the RWA track seem to be clearly fragmented — the logic between compliance assessment and actual market accessibility and liquidity constraints is not aligned. While the Solana ecosystem has made impressive progress in the RWA field, restrictions at the exchange level have become a limiting factor. Does this contradiction imply that industry standards themselves still need further improvement? It is worth deep reflection within the industry.