Is privacy and regulation really a black-and-white issue? Not necessarily. Currently, as the RWA track enters deep water, an interesting phenomenon has emerged—more and more projects are exploring the balance between "privacy + compliance."

Take Dusk as an example; its approach is quite unique. Traditional privacy coins generally adopt a stance of "I just want to oppose regulation," but Dusk takes the opposite route by embedding privacy protection directly into a compliance framework. How is this achieved? Through zero-knowledge proofs and homomorphic encryption technologies, it creates a seemingly contradictory effect—transactions are private by default, but regulators can selectively disclose information when needed. This solution aligns with strict regulatory frameworks like the EU's MiCA and MiFID II, making it inherently compliant.

Talking about these technical details, what can it actually do? Real-world cases make it clear. Dusk has partnered with the Dutch compliant exchange NPEX to launch a zero-trust custody solution, which has successfully handled securities tokenization transactions worth 300 million euros. The integration of Chainlink oracles provides reliable support for on-chain asset data. For institutional investors, this "out-of-the-box" solution indeed lowers many barriers—solving both technical and legal issues.

Looking at the overall market context, the global RWA market is rushing from a scale of $6.6 billion toward $10 trillion. Europe, as the region with the strictest regulations worldwide, will have an increasing demand for infrastructure like Dusk. Ecosystem tokens, as core tools for staking, transaction fees, and asset issuance, will obviously increase in value as the ecosystem expands. More institutional participation means more real trading volume, and this logical chain remains quite clear.