Dusk, a privacy-focused blockchain project for financial scenarios, has recently made quite a few moves in real-world asset tokenization. The EURQ compliant stablecoin launched in partnership with Quantoz Payments and NPEX is quite interesting—backed 1:1 by fiat reserves, integrated with privacy technology, meeting regulatory traceability requirements while preventing users' financial data from being exposed. This balance is indeed well struck.

Even more impressive, leveraging cross-chain interoperability protocols, Dusk has moved over 200 million euros of regulated securities onto the chain. Think about it—how inefficient is the traditional securities cross-market trading process—complex procedures, high costs, and regulatory approvals that can stall everything. On-chain solutions theoretically can significantly optimize these steps.

However, on the flip side, Dusk’s limitations in the RWA (Real-World Asset) track are quite apparent. The global RWA market has already reached a scale of 20 billion USD (as of January 2026), but Dusk’s 200 million euros in assets account for less than 1%, making it still a small player.

More critically, the ecosystem coverage is too narrow. Currently, the focus is mainly on securities assets in Europe, with poor adaptation to regulatory frameworks in other regions. Mainstream RWA categories like real estate and intellectual property are barely touched. This means that global expansion will face significant challenges.

There are also technical concerns. During early testing, issues like unresponsive clicks and unstable form field updates appeared. If such application-layer stability issues spread to large-scale RWA implementation scenarios, the risks in asset verification and transaction execution could be substantial. For systems involving real assets, such problems are zero-tolerance.

Therefore, Dusk’s prospects seem to have both opportunities and clear pitfalls to overcome.