At present, the two fastest growing parts in Web3 are RWA compliance and Payfi. We have invested in both directions, so we have been researching and paying more attention to them. Today, I saw that OKX has also released its Payfi product, which is visionary and far sighted. As discussed in previous articles, a bold conjecture was proposed that 'in 3 years, there will only be two types of cryptocurrency exchanges: one will still be the traditional single asset cryptocurrency exchange; One type is a new type of exchange that owns US stocks, US bonds, traditional financial derivatives, and encrypted assets. ’ The core of laying out Payfi has also been discussed, which is to stimulate the enormous potential funds in the Web3 credit market. The essence of the rapid development of Web2 finance in modern times is the prosperity of credit, and what Web3 lacks the most is the on chain credit system. Payfi is the key to this link, and this on chain credit system is closely related to the development of RWA. Who can become the credit center of China in the Web3 field, FICO, Equifax, Expert, TransUnion in the United States, and unify the future Web3 consumer finance and inclusive finance world. OKX has been making rapid efforts in the compliance path recently, especially prioritizing the release of products in the United States, which is significant. This time, Payfi is a further extension of the moat of the cryptocurrency trading platform. From CEX to chain (OKX=OKX+X Layer), and then to payment, this is a very clear closed loop: Users use OKX to buy coins; • Coins enter the wallet (non custodial); • Achieve low-cost payments through X Layer; Write payment records on the chain to create more native on chain behavior and achieve Web3 on chain credit data; Web3 on chain credit reporting can provide more diverse financial services in the future, such as the development of consumer finance and inclusive finance. The above financial closed loop feeds back OKX's ecosystem. This is a closed loop that many other exchanges have wanted to do but have not yet fully completed. Now OKX is making great strides forward, which is worth looking forward to. 📝 To summarize why OKX is of great significance: • Truly start making user side products; Turn payment into a reality that can be used today; Empowering one's own chain, creating a leap in original life and an on chain credit system; • Provides a strong and powerful growth flywheel (payment ->wallet ->on chain behavior ->OKX ecosystem) 👇 The picture shows the current Payfi ecosystem.