Singapore-based RWA infrastructure platform DMZ Finance announced today that its incubated "RWA Trusted Middleware" project, RWAlpha, is about to be officially launched.
Article author and source: RWAlpha
Singapore, December 24, 2025 – DMZ Finance (“DMZ”), a Singapore-based RWA infrastructure platform, today announced that its incubated “RWA Trusted Middleware” project, RWAlpha, is about to be officially launched.
RWAlpha is a permissionless RWA DeFi protocol with its management and operations team based in Hong Kong. The project aims to seamlessly integrate RWA tokens into the on-chain ecosystem in a trustworthy, transparent, and compliant manner by building a "trusted RWA middleware infrastructure," providing a high-quality source of RWA for applications such as DeFi, centralized exchanges, lending protocols, yield aggregation protocols, and U-cards.
RWAlpha has appointed Duke Shi as its Chief Executive Officer. Duke has over 12 years of experience in the financial industry, having previously served as Head of Proprietary Investment at China Renaissance Capital, responsible for digital asset investment and quantitative strategy investment. Prior to that, he worked at Haitong International Securities as Deputy Head of Asset Management and as a Responsible Officer for Hong Kong SFC License Type 1/4/5/9 companies, overseeing secondary market equity and bond investments by SFC-approved funds and Cayman Islands funds.
When discussing RWAlpha's positioning as a "trusted RWA middleware layer," Duke stated that currently mainstream Layer 1 RWA tokens on the market, such as BUIDL, BENJI, and QCDT (the first compliant tokenized money market fund approved by the Dubai Financial Services Authority, jointly issued by DMZ, Qatar National Bank, and Standard Chartered Bank), are generally whitelisted tokens due to compliance requirements. These tokens cannot be freely transferred and require high subscription thresholds and complex AML/KYC processes before they can be sold to qualified investors. Meanwhile, centralized exchanges and on-chain financial management and lending protocols have an increasingly strong demand for permissionless RWA assets, creating a significant structural supply-demand gap between the two.
"This gap urgently needs to be bridged by an intermediate layer, which is often referred to as a DeFi Wrapper," Duke pointed out. He noted that most DeFi Wrapper protocols in the current market operate anonymously, and the correspondence between their issued Wrapped Tokens and real-world underlying assets or Layer 1 RWA Tokens lacks a transparent mechanism, making it difficult to verify and audit. This easily leads to governance and credit risks, which is also one of the important reasons for the risk events of some stablecoin projects in the past.
As a "trusted middleware layer," the infrastructure built by RWAlpha has the following three core characteristics:
1. Trustworthy team : The project management team operates under a real-name system, and the resumes of core members are public and verifiable;
2. Transparent governance : The Wrapped Token and the underlying (Layer 1) RWA Token are strictly one-to-one, verifiable and auditable;
3. Compliant Structure : Adopting a compliant issuance structure and institutional-level operating processes to ensure asset security and controllable risks.
RWAlpha is reportedly currently in its internal testing phase and is scheduled to officially launch in early 2026. Industry insiders believe that the launch of this project is expected to propel the RWA DeFi protocol into a more trustworthy, transparent, and compliant development stage.
