Tech Headlines

1. The Ethereum Team Has Proposed the EIL Solution, Aiming to Enable All L2s to Be Used Seamlessly as If They Were "a Single Chain"

https://blog.ethereum.org/2025/11/18/eil

The Ethereum Account Abstraction team has released the "Ethereum Interoperability Layer" (EIL) proposal, aiming to enable all L2s to be used seamlessly as if they were a single chain. Built on ERC-4337, EIL allows users to complete cross-chain operations with a single signature within their wallet—without requiring bridges or relayers—while preserving self-custody and censorship resistance, delivering a unified experience across Ethereum’s multi-chain ecosystem.

2. Cross-Chain Technology Team Wormhole Labs Has Launched Sunrise, a Standardized Liquidity Gateway for External Assets Entering Solana

https://news.qq.com/rain/a/20251123A05X9100

According to official documentation, Sunrise is positioned as the "standard pathway" for external assets flowing into Solana. It provides users with a unified interface to transfer tokens from various chains to Solana with a single click, enabling immediate access to DeFi applications on Solana upon arrival and delivering a seamless experience of "liquidity from day one."

3. Decentralized Lending Provider Aave Will Launch an App Offering High-Yield Returns on the Apple App Store

https://fortune.com/2025/11/17/aave-app-stani-kulechov-defi-lending-borrowing-protocol/

According to Fortune magazine, Aave Labs announced on Monday its plan to launch an app on the Apple App Store and has opened a waitlist for interested users. Aave’s new product resembles a savings account but offers higher yields. Users can earn a minimum interest rate of 5% on their holdings and can deposit funds via bank accounts or debit cards. The product utilizes stablecoins and the Aave protocol.

4. The Ethereum Devconnect Developer Conference Was Held in Buenos Aires, Argentina

https://news.qq.com/rain/a/20251121A031GC00

On November 17, 2025, the Ethereum Devconnect developer conference was held in Buenos Aires, Argentina. In his speech, Vitalik Buterin elevated the technical implementation framework to a broader discussion of Ethereum’s value across the entire crypto industry. Ethereum Foundation Co-Executive Directors Tomasz Stanczak and Hsiao-Wei Wang focused on Ethereum’s role during the transition period, emphasizing reliable operation, community collaboration, and continuous innovation. Meanwhile, Danny Ryan, former core researcher and now co-founder of Etherealize, highlighted Ethereum’s critical role at the intersection of decentralization and institutional adoption from the perspective of institutional applications.

Industry Dynamics

1. Hong Kong Financial Secretary Paul Chan: Hong Kong Becomes a Safe Haven for Capital; Multiple International Institutions Plan to Hire More Staff

https://flash.jin10.com/detail/20251123110547720800

Hong Kong Special Administrative Region Financial Secretary Paul Chan stated in a blog post that, due to geopolitical developments, global investors are reassessing the risks in their portfolios and adjusting investment strategies to diversify risk, making Hong Kong a safe haven for capital. Total bank deposits in Hong Kong have risen by over 10% this year—following a 7% increase last year—to exceed HK$19 trillion. Hong Kong leads globally in IPO fundraising, its wealth management industry is thriving, and financial cooperation with regions around the world continues to deepen—all reflecting strong international investor interest in Hong Kong’s market. Several major IPOs this year have also attracted significant participation from cornerstone investors from the West to the Middle East. Recently, numerous international financial leaders visiting Hong Kong for conferences have indicated their institutions are planning to hire more staff and expand operations in the city.

2. U.S. Representative Warren Davidson Introduced the "Bitcoin for America Act"

https://x.com/BitcoinMagazine/status/1991527595129938228

U.S. Congressman Warren Davidson introduced the "Bitcoin for America Act," aiming to codify the executive order on a strategic Bitcoin reserve and eliminate capital gains tax on using Bitcoin to pay taxes.

3. The European Central Bank Warned of the Cross-Border Regulatory Arbitrage Risks Posed by Stablecoins and Called for a Globally Harmonized Regulatory Framework

https://www.panewslab.com/zh/articles/fbffc8d2-8a5e-4c91-9827-e61eace73c81

A preview of the European Central Bank’s Financial Stability Review shows that, as of November 2025, the total market capitalization of stablecoins has surpassed USD 280 billion, accounting for approximately 8% of the entire crypto market. USDT and USDC together represent nearly 90% of this share, and their reserve assets have reached the scale of the world’s top 20 money market funds. The ECB report notes that widespread adoption of stablecoins could lead households to shift part of their bank deposits into stablecoin holdings, weakening banks’ retail funding bases and increasing funding volatility. While MiCAR has already prohibited European issuers from paying interest to curb such shifts, banks are still calling on the U.S. to implement similar restrictions. Furthermore, the rapid growth of stablecoins and their linkages to the banking system could also trigger concentrated fund withdrawals during times of crisis. The report highlights the cross-border risk of “multi-issuer arrangements,” warning that EU-based issuers may struggle to meet global redemption requests, and calls for additional safeguards prior to market access as well as greater global regulatory alignment.

In-Depth Analysis

1. Global RWA Compliance Landscape Overview: Asset Tokenization Progress Under Prudential Regulation in Hong Kong, China

https://www.panewslab.com/zh/articles/2cbd022a-03c0-4109-8456-c0dc2a04b958

In early November 2025, the Securities and Futures Commission (SFC) of Hong Kong issued a circular permitting virtual asset trading platforms to share global order books; just a few months earlier, the Hong Kong Special Administrative Region Government had released the "Digital Asset Development Policy Statement 2.0," and the Hong Kong Monetary Authority (HKMA) also implemented new regulatory rules for stablecoin issuers. Behind this series of policy moves, Hong Kong is quietly building a world-leading real-world asset (RWA) tokenization ecosystem.