Momentum X is not merely a technical attempt, but a strategic layout aimed at the trillion-dollar market.
Momentum is a decentralized trading platform and liquidity hub on the Sui network. Since its official launch at the end of April 2025, the total value locked (TVL) in the ecosystem has exceeded $150 million within just a few months, with cumulative trading volume surpassing $10 billion and user numbers exceeding 2 million, demonstrating the rapid development of its ecosystem. Momentum is currently hosting a joint event with OKX Wallet, with over 2.3 million addresses participating, and this event will conclude on September 22.
As the global financial market gradually enters the on-chain era, Momentum has officially proposed a new vision: not only to serve crypto-native assets but also to build the next generation of financial infrastructure for RWA tokenized assets. Through the newly launched Momentum X module, this vision is being realized, aiming to address pain points in the real market and provide investors with a more transparent and efficient trading experience.
With the global regulatory environment gradually clarifying, RWA tokenization is no longer a question of "whether it can be attempted," but rather "how to execute it compliantly." The United States officially signed the stablecoin bill GENIUS Act in July 2025, with SEC Chairman Paul Atkins stating, "code is law, compliance on-chain," clearly supporting the on-chain transition of traditional assets. The European MiCA framework provides guidance for RWA tokenization, and Singapore's MAS Sandbox has also opened on-chain pilot projects. In this trend, Momentum's actions are particularly timely, providing a window for global investors to observe the future financial market.
Currently, RWA tokenization has moved from concept to market: the tokenization scale of U.S. Treasury bonds has exceeded $7.4 billion, becoming the largest RWA category on-chain; gold tokenization has surpassed $1.6 billion; various on-chain models have emerged in the U.S. stock market, including Robinhood-style and xStocks-style; asset types such as funds, corporate bonds, and REITs have also begun to go on-chain, with BlackRock's BUIDL fund exceeding $2.4 billion. The total scale of the global bond market reaches $140 trillion, and the global securities market exceeds $220 trillion, with real assets steadily migrating to the blockchain world, marking the largest asset on-chain process in financial history.
However, the road to this trillion-dollar market is not smooth. The existing RWA market has several major pain points:
Issuer Isolation — Each issuer has independent KYC/AML, UI, and compliance logic, requiring investors to repeatedly submit identity information, leading to low efficiency and high error rates.
Off-chain Compliance — Most compliance rules are executed off-chain, lacking transparency and being difficult to replicate on a large scale.
Lack of Composability — The same underlying assets are incompatible across different chains or issuers, resulting in fragmented liquidity, low capital efficiency, and difficulty in forming deep markets.
Momentum X was born to address these issues, not just as a trading tool, but as a unified infrastructure that integrates identity verification, on-chain compliance, and cross-chain interoperability. Through the Universal KYC/AML Layer, investors only need to verify their identity once to cover all issuers, with identity information encrypted and stored, verified through zero-knowledge proofs to ensure privacy and security. With On-chain Programmable Compliance, investor rights, transfer, and profit distribution rules can be directly written into the token standard, automatically executed by smart contracts, ensuring transparency and auditability. Through Cross-chain Interoperability, RWA tokens based on Wormhole technology can circulate across chains, with compliance logic transmitted accordingly, achieving true interoperability.
Imagine a future day when a trader living in Shenzhen opens the Momentum X platform while sipping coffee; he can see real-time prices and liquidity for U.S. Treasury bonds, gold, and corporate bond tokens on the same interface and execute cross-chain transactions directly. The trader only needs to verify his identity once to buy and sell assets across different issuers and chains. He can automatically allocate profits or rebalance his portfolio using smart contracts, efficiently managing his assets; if he wants to use part of his Treasury bond tokens to participate in DeFi lending, the system will automatically calculate risk limits and compliance rules to ensure the operation is legal and safe. This "one-stop full-chain operation" transforms RWA on-chain from theory into practical application, showcasing how various assets can be efficiently managed in the future.
The launch of Momentum X not only addresses the issue of market fragmentation but also provides a reliable on-chain infrastructure for institutional-level investment. Unified market depth means that token products of the same underlying asset can be traded interchangeably across different chains and issuers, supporting large compliant transactions. The deep integration of RWA and DeFi services: these assets can be traded and also serve as collateral for loans or liquidity pool assets, maximizing capital efficiency.
In summary, Momentum X is not merely a technical attempt but a strategic layout aimed at the trillion-dollar market. While addressing existing pain points, it also provides users and institutions with a more friendly and efficient on-chain experience. As global RWA tokenization accelerates, Momentum X is expected to become a key infrastructure connecting TradFi and DeFi, opening a new world of on-chain assets for global investors.
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