At the HSC Asset Management high-level conference in Abu Dhabi, Yoyee Wang, Head of Business-to-Business at Bybit, outlined the critical factors driving institutional adoption of digital assets. The two-day event gathered policymakers, asset managers, and technology leaders to discuss global investment trends, digital assets, AI, and the future of financial markets.
Wang participated in a panel titled "The Future Stack of Digital Finance: Investments, Transactions, Custody, and the New Market Architecture," moderated by David Gevorkian of TWO23 Group. The panel featured senior executives from Gate, Binance, and Bitpanda Technology Solutions.
Wang emphasized that institutional custody discussions are rooted in risk management and operational efficiency. "When institutions talk about custody, the discussion usually starts with security – transparency, control of assets and risk reduction," she said. "But custody is not the objective in itself. The underlying question is how clients can trade more efficiently while managing risk."
She noted the industry's shift toward custodian and off-exchange settlement models, highlighting capital efficiency as the immediate challenge. "As custody structures are introduced, whether through multi-party arrangements or off-exchange solutions, the priority is to improve capital efficiency, on top of enhanced security and reduced counterparty risk to exchanges."
Wang pointed to the United Arab Emirates as a model for regulatory clarity. "Bybit established its headquarters in the UAE some time ago, and we’ve seen regulations in the region become progressively clearer," she stated. "That clarity and certainty are critical for technology innovation and for building confidence among global institutions." She added that clear frameworks foster constructive dialogue between regulators, market participants, and technology providers.
Addressing tokenized real-world assets (RWAs), Wang revealed Bybit's collaborations with traditional finance giants. "We’ve launched tokenized products in collaboration with Qatar National Bank and UBS that provide exposure to underlying money-market instruments," she said. These products allow clients to access traditional returns within a digital asset framework, benefiting from liquidity and trading functionality. However, she cautioned that the broader RWA landscape remains uneven, with Bybit focusing on well-structured, regulated, and tradable products.
Wang concluded by encouraging institutions to view digital assets as part of a broader blockchain infrastructure, not just an asset class. She suggested participation could take many forms, including liquidity provision, agency trading, or technology collaboration, depending on an institution's business model and risk framework.
