Currently, the two fastest-growing areas in #Web3 are one that is moving towards compliance with #RWA and the other is #Payfi. Coincidentally, we have investments in both directions, so we research and pay close attention to them. Today, I saw that #OKX also released its own #Payfi product, showing foresight and strategic planning. In previous articles, I have discussed and proposed a bold hypothesis: 'In 3 years, there will only be two types of crypto exchanges: one will remain the traditional single crypto asset exchange; the other will be a new type of exchange that includes US stocks, US bonds, traditional financial derivatives, and crypto assets.' I have also discussed that the core of deploying #Payfi is to stimulate the massive potential funds in the Web3 credit market. The essence of the rapid development of modern Web2 finance comes from the prosperity of credit, and what Web3 lacks most is an on-chain credit system. #Payfi is the key to this link, and the development of this on-chain credit system is closely related to #RWA. Whoever can become the credit center in the Web3 field, akin to China's credit center, or the US's FICO, Equifax, Experian, TransUnion, will dominate the future of Web3 consumer finance and inclusive finance. #OKX has recently been making rapid progress on the compliance path, especially with the recent priority release of products in the US, which is significant. This time, #Payfi further extends the moat of the crypto trading platform. From CEX to chain (OKX = OKX + X Layer), and then to payment, this is a very clear closed loop: • Users buy coins with #OKX; • Coins enter the wallet (non-custodial); • Achieve low-cost payment through X Layer; • Payment records are written on the chain, creating more native on-chain behaviors, realizing Web3 on-chain credit data; • Web3 on-chain credit 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 into the #OKX ecosystem. This is a closed loop that many other exchanges want to achieve but have not yet fully accomplished. Now #OKX is moving forward boldly, worth looking forward to. 📝 To summarize why this step by #OKX is significant: • Truly starting to make user-end products; • Turning payment into a reality that can be used 'today'; • Empowering its own chain, creating native activity and an on-chain credit system; • Providing a strong growth flywheel (payment -> wallet -> on-chain behavior -> OKX ecosystem) 👇 The picture shows the current #Payfi ecosystem diagram.