{"id":2752,"date":"2025-06-05T09:23:47","date_gmt":"2025-06-05T09:23:47","guid":{"rendered":"https:\/\/theexchain.com\/?p=2752"},"modified":"2025-06-06T03:11:57","modified_gmt":"2025-06-06T03:11:57","slug":"5-%e3%82%a2%e3%82%bb%e3%83%83%e3%83%88%e3%83%bb%e3%83%88%e3%83%bc%e3%82%af%e3%83%8a%e3%82%a4%e3%82%bc%e3%83%bc%e3%82%b7%e3%83%a7%e3%83%b3","status":"publish","type":"post","link":"https:\/\/theexchain.com\/ja\/5-%e3%82%a2%e3%82%bb%e3%83%83%e3%83%88%e3%83%bb%e3%83%88%e3%83%bc%e3%82%af%e3%83%8a%e3%82%a4%e3%82%bc%e3%83%bc%e3%82%b7%e3%83%a7%e3%83%b3\/","title":{"rendered":"5.\u8cc7\u7523\u306e\u30c8\u30fc\u30af\u30f3\u5316"},"content":{"rendered":"<h2 class=\"wp-block-heading has-text-color\" style=\"color:#443ddf\">5.1 \u30a2\u30bb\u30c3\u30c8\u30fb\u30c8\u30fc\u30af\u30ca\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\u3068\u30ea\u30a2\u30eb\u30fb\u30ef\u30fc\u30eb\u30c9\u30fb\u30a2\u30bb\u30c3\u30c8\uff08RWA\uff09\u306e\u6982\u5ff5<\/h2>\n\n\n\n<p><strong>\u5b66\u7fd2\u76ee\u6a19<\/strong> 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https:\/\/theexchain.com\/wp-content\/uploads\/2025\/06\/1749179270706-c199dcb9-ec5e-4c89-b2ea-dbf11dcf7fb4@1024x1024-300x300.png 300w, https:\/\/theexchain.com\/wp-content\/uploads\/2025\/06\/1749179270706-c199dcb9-ec5e-4c89-b2ea-dbf11dcf7fb4@1024x1024-150x150.png 150w, https:\/\/theexchain.com\/wp-content\/uploads\/2025\/06\/1749179270706-c199dcb9-ec5e-4c89-b2ea-dbf11dcf7fb4@1024x1024-768x768.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>\u30a2\u30bb\u30c3\u30c8\u30fb\u30c8\u30fc\u30af\u30ca\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\u306e\u30d7\u30ed\u30bb\u30b9\u306b\u306f\u3001\u901a\u5e38\u4ee5\u4e0b\u306e\u30b9\u30c6\u30c3\u30d7\u304c\u542b\u307e\u308c\u308b\uff1a<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u8cc7\u7523\u306e\u9078\u629e\u3068\u8a55\u4fa1<\/strong> 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class=\"wp-block-heading\">\u30c8\u30fc\u30af\u30f3\u5316\u306b\u304a\u3051\u308b\u30b9\u30de\u30fc\u30c8\u30fb\u30b3\u30f3\u30c8\u30e9\u30af\u30c8\u306e\u5f79\u5272<\/h4>\n\n\n\n<p>\u30b9\u30de\u30fc\u30c8\u30b3\u30f3\u30c8\u30e9\u30af\u30c8\u306f\u8cc7\u7523\u30c8\u30fc\u30af\u30f3\u5316\u306e\u4e2d\u6838\u6280\u8853\u3067\u3042\u308b\u3002\u6240\u6709\u6a29\u306e\u79fb\u8ee2\u3001\u53ce\u76ca\u306e\u5206\u914d\u3001\u8b70\u6c7a\u6a29\u306e\u884c\u4f7f\u306a\u3069\u3001\u8cc7\u7523\u306b\u95a2\u9023\u3059\u308b\u6761\u4ef6\u306e\u5b9f\u884c\u3092\u81ea\u52d5\u5316\u3057\u3001\u52b9\u7387\u6027\u3068\u900f\u660e\u6027\u3092\u5411\u4e0a\u3055\u305b\u306a\u304c\u3089\u624b\u4f5c\u696d\u306e\u4ecb\u5165\u3092\u6e1b\u3089\u3059\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u30d5\u30e9\u30af\u30b7\u30e7\u30ca\u30eb\u30fb\u30aa\u30fc\u30ca\u30fc\u30b7\u30c3\u30d7<\/h4>\n\n\n\n<p>\u30c8\u30fc\u30af\u30f3\u5316\u306b\u3088\u308a\u3001\u9ad8\u984d\u3067\u4e0d\u53ef\u5206\u306e\u8cc7\u7523\uff08\u4e0d\u52d5\u7523\u3084\u540d\u753b\u306a\u3069\uff09\u3092\u3088\u308a\u5c0f\u3055\u306a\u30c8\u30fc\u30af\u30f3\u30fb\u30b7\u30a7\u30a2\u306b\u5206\u5272\u3059\u308b\u3053\u3068\u304c\u53ef\u80fd\u306b\u306a\u308b\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u3088\u308a\u591a\u304f\u306e\u5c0f\u898f\u6a21\u6295\u8cc7\u5bb6\u304c\u53c2\u52a0\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308a\u3001\u6295\u8cc7\u306e\u6577\u5c45\u304c\u4e0b\u304c\u308b\u3002<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#443ddf\">5.3 \u30a2\u30bb\u30c3\u30c8\u30fb\u30c8\u30fc\u30af\u30ca\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\u306e\u4e2d\u6838\u7684\u5229\u70b9<\/h2>\n\n\n\n<p><strong>\u5b66\u7fd2\u76ee\u6a19<\/strong> \u30c8\u30fc\u30af\u30f3\u5316\u304c\u3044\u304b\u306b\u8cc7\u7523\u306e\u6d41\u52d5\u6027\u3068\u30a2\u30af\u30bb\u30b7\u30d3\u30ea\u30c6\u30a3\u3092\u9ad8\u3081\u308b\u304b\u3092\u8a8d\u8b58\u3059\u308b\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u8cc7\u7523\u306e\u6d41\u52d5\u6027\u306e\u5411\u4e0a\uff1a<\/strong> \u4f1d\u7d71\u7684\u306b\u6d41\u52d5\u6027\u306e\u4f4e\u3044\u8cc7\u7523\uff08\u4e0d\u52d5\u7523\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u3001\u7f8e\u8853\u54c1\u306a\u3069\uff09\u3092\u30c8\u30fc\u30af\u30f3\u5316\u3057\u3066\u5c0f\u53e3\u5316\u3059\u308b\u3053\u3068\u3067\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u306a\u6d41\u901a\u5e02\u5834\u3067\u306e\u53d6\u5f15\u304c\u5bb9\u6613\u306b\u306a\u308a\u3001\u6d41\u52d5\u6027\u304c\u5927\u5e45\u306b\u5411\u4e0a\u3059\u308b\u3002<\/li>\n\n\n\n<li><strong>\u6295\u8cc7\u57fa\u6e96\u984d\u306e\u5f15\u304d\u4e0b\u3052\uff1a<\/strong> \u30d5\u30e9\u30af\u30b7\u30e7\u30ca\u30eb\u30fb\u30aa\u30fc\u30ca\u30fc\u30b7\u30c3\u30d7\u306f\u3001\u5c0f\u53e3\u6295\u8cc7\u5bb6\u304c\u9ad8\u984d\u8cc7\u7523\u306b\u6295\u8cc7\u3059\u308b\u3053\u3068\u3092\u53ef\u80fd\u306b\u3057\u3001\u6295\u8cc7\u5bb6\u306e\u88fe\u91ce\u3092\u5e83\u3052\u3001\u6295\u8cc7\u6a5f\u4f1a\u3092\u6c11\u4e3b\u5316\u3059\u308b\u3002<\/li>\n\n\n\n<li><strong>24\u6642\u9593365\u65e5\u53d6\u5f15\u53ef\u80fd<\/strong> \u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u30fb\u30d9\u30fc\u30b9\u306e\u5e02\u5834\u306f\u3001\u5f93\u6765\u306e\u53d6\u5f15\u6240\u306e\u55b6\u696d\u6642\u9593\u306b\u59a8\u3052\u3089\u308c\u308b\u3053\u3068\u306a\u304f\u7d99\u7d9a\u7684\u306b\u904b\u55b6\u3055\u308c\u3001\u53d6\u5f15\u306e\u67d4\u8edf\u6027\u3068\u52b9\u7387\u6027\u3092\u9ad8\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/li>\n\n\n\n<li><strong>\u4ef2\u4ecb\u30b3\u30b9\u30c8\u306e\u524a\u6e1b\u3068\u52b9\u7387\u6027\u306e\u5411\u4e0a\uff1a<\/strong> \u30c8\u30fc\u30af\u30f3\u5316\u3068\u30b9\u30de\u30fc\u30c8\u30b3\u30f3\u30c8\u30e9\u30af\u30c8\u306f\u3001\u5f93\u6765\u306e\u8cc7\u7523\u53d6\u5f15\u306b\u304a\u3051\u308b\u591a\u304f\u306e\u624b\u4f5c\u696d\u30d7\u30ed\u30bb\u30b9\uff08\u6e05\u7b97\u3001\u6c7a\u6e08\u3001\u6240\u6709\u6a29\u767b\u9332\u306a\u3069\uff09\u3092\u81ea\u52d5\u5316\u3057\u3001\u9280\u884c\u3001\u30d6\u30ed\u30fc\u30ab\u30fc\u3001\u5f01\u8b77\u58eb\u3078\u306e\u4f9d\u5b58\u3092\u6e1b\u3089\u3057\u3001\u53d6\u5f15\u30b3\u30b9\u30c8\u3068\u6642\u9593\u3092\u524a\u6e1b\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/li>\n\n\n\n<li><strong>\u900f\u660e\u6027\u3068\u691c\u8a3c\u53ef\u80fd\u6027\u306e\u5411\u4e0a\uff1a<\/strong> \u6240\u6709\u8005\u306e\u8a18\u9332\u3068\u53d6\u5f15\u5c65\u6b74\u306f\u4e0d\u5909\u306e\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u306b\u8a18\u9332\u3055\u308c\u3001\u8ab0\u3067\u3082\uff08\u8a31\u53ef\u7bc4\u56f2\u5185\u3067\uff09\u95b2\u89a7\u30fb\u691c\u8a3c\u3067\u304d\u308b\u305f\u3081\u3001\u5e02\u5834\u306e\u900f\u660e\u6027\u3068\u4fe1\u983c\u6027\u304c\u9ad8\u307e\u308b\u3002<\/li>\n\n\n\n<li><strong>\u30b3\u30f3\u30dd\u30fc\u30b6\u30d3\u30ea\u30c6\u30a3\u306e\u5411\u4e0a\uff1a<\/strong> \u30c8\u30fc\u30af\u30f3\u5316\u3055\u308c\u305f\u8cc7\u7523\u3092DeFi\u30d7\u30ed\u30c8\u30b3\u30eb\u306b\u7d71\u5408\u3059\u308b\u3053\u3068\u3067\u3001\u30c8\u30fc\u30af\u30f3\u5316\u3055\u308c\u305f\u4e0d\u52d5\u7523\u3092\u62c5\u4fdd\u306b\u878d\u8cc7\u3092\u884c\u3046\u306a\u3069\u3001\u65b0\u305f\u306a\u91d1\u878d\u5546\u54c1\u3084\u30b5\u30fc\u30d3\u30b9\u3092\u751f\u307f\u51fa\u3059\u3053\u3068\u304c\u3088\u308a\u5bb9\u6613\u306b\u306a\u308b\u3002<\/li>\n\n\n\n<li><strong>\u878d\u8cc7\u30c1\u30e3\u30cd\u30eb\u306e\u62e1\u5927\uff1a<\/strong> \u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30fc\u30ca\u30fc\u306b\u65b0\u305f\u306a\u8cc7\u91d1\u8abf\u9054\u624b\u6bb5\u3092\u63d0\u4f9b\u3057\u3001\u3088\u308a\u5e83\u7bc4\u306a\u30b0\u30ed\u30fc\u30d0\u30eb\u6295\u8cc7\u5bb6\u306b\u30a2\u30d7\u30ed\u30fc\u30c1\u3059\u308b\u3002<\/li>\n<\/ol>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#443ddf\">5.4 \u30a2\u30bb\u30c3\u30c8\u30fb\u30c8\u30fc\u30af\u30ca\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\u306e\u4e3b\u306a\u5fdc\u7528\u5206\u91ce<\/h2>\n\n\n\n<p><strong>\u5b66\u7fd2\u76ee\u6a19<\/strong> \u3055\u307e\u3056\u307e\u306a\u8cc7\u7523\u30af\u30e9\u30b9\u306b\u304a\u3051\u308b\u30c8\u30fc\u30af\u30f3\u5316\u306e\u5177\u4f53\u7684\u306a\u9069\u7528\u4e8b\u4f8b\u3092\u63a2\u308b\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u4e0d\u52d5\u7523\u30c8\u30fc\u30af\u30f3\u5316\uff1a<\/strong> 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\u97f3\u697d\u4f7f\u7528\u6599\u3001\u7279\u8a31\u6a29\u3001\u6620\u753b\u6a29\u306a\u3069\u3092\u30c8\u30fc\u30af\u30f3\u5316\u3059\u308b\u3053\u3068\u3067\u3001\u8cc7\u91d1\u8abf\u9054\u3084\u53ce\u76ca\u5206\u914d\u304c\u53ef\u80fd\u306b\u306a\u308b\u3002<\/li>\n\n\n\n<li><strong>\u70ad\u7d20\u30af\u30ec\u30b8\u30c3\u30c8\u306e\u30c8\u30fc\u30af\u30f3\u5316\uff1a<\/strong> \u70ad\u7d20\u6392\u51fa\u67a0\u3084\u524a\u6e1b\u91cf\u306e\u30c8\u30fc\u30af\u30f3\u5316\u306f\u3001\u70ad\u7d20\u5e02\u5834\u306e\u6d41\u52d5\u6027\u3068\u900f\u660e\u6027\u3092\u4fc3\u9032\u3059\u308b\u3002<\/li>\n\n\n\n<li><strong>\u50b5\u6a29\u304a\u3088\u3073\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\uff1a<\/strong> \u4f01\u696d\u306f\u58f2\u639b\u50b5\u6a29\u3092\u30c8\u30fc\u30af\u30f3\u5316\u3057\u3066\u8cc7\u91d1\u8abf\u9054\u3057\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u6539\u5584\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/li>\n\n\n\n<li><strong>\u8fb2\u7523\u7269\u62c5\u4fdd\u30ed\u30fc\u30f3\uff1a<\/strong> \u4f8b\u3048\u3070\u3001\u30b9\u30da\u30a4\u30f3\u306e\u3042\u308b\u9280\u884c\u306f\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u3068\u5354\u529b\u3057\u3001\u8fb2\u7523\u7269\uff08\u30c8\u30a6\u30e2\u30ed\u30b3\u30b7\u306e\u53ce\u7a6b\u6a29\u306a\u3069\uff09\u3092\u4fe1\u7528\u306e\u62c5\u4fdd\u3068\u3057\u3066\u30c8\u30fc\u30af\u30f3\u5316\u3057\u3001\u8fb2\u5bb6\u306e\u8cc7\u91d1\u9700\u8981\u3092\u30b5\u30dd\u30fc\u30c8\u3057\u3066\u3044\u308b\u3002<\/li>\n\n\n\n<li><strong>\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3<\/strong> \u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u81ea\u4f53\u306fRWA\u30c8\u30fc\u30af\u30f3\u5316\u306e\u6210\u529f\u4f8b\u3067\u3042\u308a\u3001\u7c73\u30c9\u30eb\u306e\u3088\u3046\u306a\u4e0d\u63db\u7d19\u5e63\u8cc7\u7523\u3092\u30c8\u30fc\u30af\u30f3\u5316\u3057\u3001\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u4e0a\u306b\u6301\u3061\u8fbc\u3093\u3067\u3044\u308b\u3002<\/li>\n<\/ol>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#443ddf\">5.5 DeFi\u306b\u304a\u3051\u308b\u30c8\u30fc\u30af\u30f3\u5316\u8cc7\u7523\u306e\u5fdc\u7528<\/h2>\n\n\n\n<p><strong>\u5b66\u7fd2\u76ee\u6a19<\/strong> RWA\u304c\u5206\u6563\u578b\u91d1\u878d\uff08DeFi\uff09\u3068\u3069\u306e\u3088\u3046\u306b\u7d71\u5408\u3055\u308c\u308b\u304b\u3092\u7406\u89e3\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u5206\u6563\u578b\u91d1\u878d\uff08DeFi\uff09\u306b\u30ea\u30a2\u30eb\u30ef\u30fc\u30eb\u30c9\u30a2\u30bb\u30c3\u30c8\uff08RWA\uff09\u3092\u5c0e\u5165\u3059\u308b\u3053\u3068\u306f\u3001\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u696d\u754c\u306b\u304a\u3051\u308b\u91cd\u8981\u306a\u30c8\u30ec\u30f3\u30c9\u3067\u3042\u308a\u3001\u4f1d\u7d71\u7684\u306a\u91d1\u878d\u5e02\u5834\u3068\u65b0\u8208\u306eDeFi\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u3092\u3064\u306a\u3050\u3053\u3068\u3092\u76ee\u7684\u3068\u3057\u3066\u3044\u308b\u3002DeFi\u306b\u304a\u3051\u308bRWA\u306e\u4e3b\u306a\u7528\u9014\u306f\u4ee5\u4e0b\u306e\u901a\u308a\uff1a<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u8cb8\u51fa\u306e\u62c5\u4fdd\u3068\u3057\u3066\u306eRWA\uff1a<\/strong>\n<ul class=\"wp-block-list\">\n<li>DeFi\u30ec\u30f3\u30c7\u30a3\u30f3\u30b0\u30fb\u30d7\u30ed\u30c8\u30b3\u30eb\uff08MakerDAO\u3001Aave\u3001Compound\u306a\u3069\uff09\u306f\u3001\u30c8\u30fc\u30af\u30f3\u5316\u3055\u308c\u305fRWA\uff08\u30c8\u30fc\u30af\u30f3\u5316\u3055\u308c\u305f\u4e0d\u52d5\u7523\u3001\u56fd\u5eab\u8a3c\u5238\u3001\u50b5\u6a29\u306a\u3069\uff09\u3092\u62c5\u4fdd\u3068\u3057\u3066\u53d7\u3051\u5165\u308c\u3001\u5b89\u5b9a\u30b3\u30a4\u30f3\u3084\u305d\u306e\u4ed6\u306e\u6697\u53f7\u8cc7\u7523\u3092\u8cb8\u3057\u51fa\u3059\u3053\u3068\u3092\u6a21\u7d22\u3057\u59cb\u3081\u3066\u3044\u308b\u3002<\/li>\n\n\n\n<li>\u3053\u308c\u306b\u3088\u308a\u3001DeFi\u30d7\u30ed\u30c8\u30b3\u30eb\u3067\u8a31\u5bb9\u3055\u308c\u308b\u62c5\u4fdd\u306e\u7bc4\u56f2\u304c\u62e1\u5927\u3057\u3001\u7d14\u7c8b\u306a\u6697\u53f7\u8cc7\u7523\u3078\u306e\u4f9d\u5b58\u5ea6\u304c\u4f4e\u4e0b\u3057\u3001RWA\u4fdd\u6709\u8005\u306b\u65b0\u305f\u306a\u8cc7\u91d1\u8abf\u9054\u30c1\u30e3\u30cd\u30eb\u304c\u63d0\u4f9b\u3055\u308c\u308b\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>RWA\u306b\u57fa\u3065\u304f\u5229\u56de\u308a\u5546\u54c1\uff1a<\/strong>\n<ul class=\"wp-block-list\">\n<li>RWA\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08\u5bb6\u8cc3\u3084\u30ed\u30fc\u30f3\u5229\u606f\u306a\u3069\uff09\u306b\u57fa\u3065\u304f\u4ed5\u7d44\u5546\u54c1\u3084\u5229\u56de\u308a\u4ed8\u304d\u30c8\u30fc\u30af\u30f3\u3092\u4f5c\u6210\u3059\u308b\u3053\u3068\u3067\u3001DeFi\u6295\u8cc7\u5bb6\u306f\u6697\u53f7\u5e02\u5834\u3068\u306e\u76f8\u95a2\u6027\u304c\u4f4e\u3044\u5b89\u5b9a\u3057\u305f\u53ce\u5165\u6e90\u3092\u5f97\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/li>\n\n\n\n<li>\u4f8b\u3048\u3070\u3001\u5b89\u5b9a\u3057\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u307f\u51fa\u3059\u30c8\u30fc\u30af\u30f3\u5316\u3055\u308c\u305fRWA\uff08\u77ed\u671f\u4f01\u696d\u30ed\u30fc\u30f3\u306e\u3088\u3046\u306a\u3082\u306e\uff09\u3092\u30d0\u30f3\u30c9\u30eb\u3057\u3001DeFi\u30e6\u30fc\u30b6\u30fc\u304c\u6295\u8cc7\u3067\u304d\u308b\u3088\u3046\u306b\u3059\u308b\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u4f1d\u7d71\u7684\u306a\u91d1\u878d\u3068DeFi\u3092\u3064\u306a\u3050\uff1a<\/strong>\n<ul class=\"wp-block-list\">\n<li>RWA\u306e\u30c8\u30fc\u30af\u30f3\u5316\u306f\u3001\u4f1d\u7d71\u7684\u306a\u91d1\u878d\u5e02\u5834\u306e\u81a8\u5927\u306a\u6d41\u52d5\u6027\u3068\u8cc7\u7523\u30af\u30e9\u30b9\u3092DeFi\u306b\u3082\u305f\u3089\u3059\u306e\u306b\u5f79\u7acb\u3061\u3001DeFi\u306b\u5e45\u5e83\u3044\u5fdc\u7528\u30b7\u30ca\u30ea\u30aa\u3068\u3088\u308a\u6301\u7d9a\u53ef\u80fd\u306a\u6210\u9577\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/li>\n\n\n\n<li>\u9006\u306b\u3001DeFi\u306e\u52b9\u7387\u6027\u3068\u900f\u660e\u6027\u306f\u3001\u5f93\u6765\u306eRWA\u5e02\u5834\u306b\u9769\u65b0\u3092\u3082\u305f\u3089\u3059\u3053\u3068\u3082\u3067\u304d\u308b\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>RWA\u304c\u652f\u63f4\u3059\u308b\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\uff1a<\/strong> \u4e0d\u63db\u7d19\u5e63\u3084\u6697\u53f7\u8cc7\u7523\u306b\u52a0\u3048\u3001RWA\u306f\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306e\u62c5\u4fdd\u3068\u3057\u3066\u3082\u6a5f\u80fd\u3059\u308b\u305f\u3081\u3001\u3088\u308a\u591a\u69d8\u306a\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306e\u9078\u629e\u80a2\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/li>\n\n\n\n<li><strong>\u6d41\u52d5\u6027\u30d7\u30fc\u30eb\u3068RWA\u306e\u30de\u30fc\u30b1\u30c3\u30c8\u30fb\u30e1\u30a4\u30ad\u30f3\u30b0\uff1a<\/strong> DEX\u3067RWA\u30c8\u30fc\u30af\u30f3\u306e\u6d41\u52d5\u6027\u30d7\u30fc\u30eb\u3092\u4f5c\u308b\u3053\u3068\u3067\u3001\u30e6\u30fc\u30b6\u30fc\u306f\u3053\u308c\u3089\u306e\u8cc7\u7523\u3092\u53d6\u5f15\u3057\u3001\u6d41\u52d5\u6027\u30d7\u30ed\u30d0\u30a4\u30c0\u30fc\u306b\u30ea\u30bf\u30fc\u30f3\u3092\u751f\u307f\u51fa\u3059\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/li>\n<\/ol>\n\n\n\n<p>\u3057\u304b\u3057\u3001DeFi\u306b\u304a\u3051\u308bRWA\u306e\u9069\u7528\u306b\u306f\u3001\u8cc7\u7523\u8a55\u4fa1\u3001\u6cd5\u7684\u6a29\u5229\u3001\u30ab\u30b9\u30c8\u30c7\u30a3\u3001\u30af\u30ea\u30a2\u30ea\u30f3\u30b0\u30e1\u30ab\u30cb\u30ba\u30e0\u306e\u8907\u96d1\u3055\u3001\u30aa\u30d5\u30c1\u30a7\u30fc\u30f3\u8cc7\u7523\u3068\u30aa\u30f3\u30c1\u30a7\u30fc\u30f3\u30c8\u30fc\u30af\u30f3\u306e\u4fe1\u983c\u3067\u304d\u308b\u63a5\u7d9a\u306e\u78ba\u4fdd\u3068\u3044\u3063\u305f\u8ab2\u984c\u3082\u3042\u308b\u3002<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#443ddf\">5.6 \u30a2\u30bb\u30c3\u30c8\u30fb\u30c8\u30fc\u30af\u30ca\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\u306e\u8ab2\u984c\u3068\u30ea\u30b9\u30af<\/h2>\n\n\n\n<p><strong>\u5b66\u7fd2\u76ee\u6a19<\/strong> \u30c8\u30fc\u30af\u30f3\u5316\u30d7\u30ed\u30bb\u30b9\u306b\u304a\u3051\u308b\u4e3b\u306a\u6cd5\u7684\u3001\u898f\u5236\u7684\u3001\u6280\u8853\u7684\u30ea\u30b9\u30af\u3092\u7279\u5b9a\u3059\u308b\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u6cd5\u7684\u6a29\u5229\u3068\u6240\u6709\u6a29\u306e\u5b9a\u7fa9\u306e\u554f\u984c\uff1a<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u30aa\u30f3\u30fb\u30c1\u30a7\u30fc\u30f3\u30c8\u30fc\u30af\u30f3\u304c\u30aa\u30d5\u30fb\u30c1\u30a7\u30fc\u30f3\u306e\u7269\u7406\u7684\u8cc7\u7523\u306b\u5bfe\u3059\u308b\u6cd5\u7684\u6240\u6709\u6a29\u3084\u6a29\u5229\u3092\u7d14\u7c8b\u306b\u8868\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u4fdd\u8a3c\u3059\u308b\u3053\u3068\u306f\u3001\u6700\u5927\u306e\u8ab2\u984c\u306e\u4e00\u3064\u3067\u3042\u308b\u3002\u53f8\u6cd5\u7ba1\u8f44\u533a\u57df\u306b\u3088\u3063\u3066\u3001\u3053\u308c\u306b\u95a2\u3059\u308b\u6cd5\u7684\u898f\u5b9a\u306f\u3055\u307e\u3056\u307e\u3067\u3059\u3002<\/li>\n\n\n\n<li>\u30c8\u30fc\u30af\u30f3\u4fdd\u6709\u8005\u306e\u6a29\u5229\uff08\u8b70\u6c7a\u6a29\u3001\u53ce\u76ca\u5206\u914d\u6a29\u3001\u511f\u9084\u6a29\u306a\u3069\uff09\u306f\u660e\u78ba\u306b\u5b9a\u7fa9\u3055\u308c\u3001\u6cd5\u7684\u306b\u4fdd\u8b77\u3055\u308c\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002<\/li>\n\n\n\n<li>\u7279\u306bNFT\u306e\u7f8e\u8853\u54c1\u3084\u73fe\u7269\u8cc7\u7523\u306e\u6240\u6709\u6a29\u306b\u3064\u3044\u3066\u306f\u3001\u7834\u7523\u306e\u969b\u306e\u8cc7\u7523\u306e\u6271\u3044\u306b\u95a2\u3059\u308b\u6cd5\u7684\u67a0\u7d44\u307f\u304c\u672a\u6574\u5099\u306e\u307e\u307e\u3067\u3042\u308b\u3002<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u30b0\u30ed\u30fc\u30d0\u30eb\u306a\u898f\u5236\u653f\u7b56\u306e\u4e0d\u78ba\u5b9f\u6027\uff1a<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u30a2\u30bb\u30c3\u30c8\u30fb\u30c8\u30fc\u30af\u30ca\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\uff08\u7279\u306b\u8a3c\u5238\uff09\u306f\u3001\u5404\u56fd\u306e\u8a3c\u5238\u6cd5\u3084\u91d1\u878d\u898f\u5236\u306e\u4e0b\u3067\u53b3\u3057\u3044\u898f\u5236\u306e\u5bfe\u8c61\u3068\u306a\u308b\u3002\u73fe\u5728\u3001\u4e16\u754c\u7684\u306b\u7d71\u4e00\u3055\u308c\u305f\u898f\u5236\u57fa\u6e96\u306f\u5b58\u5728\u3057\u306a\u3044\u3002<\/li>\n\n\n\n<li>\u30c8\u30fc\u30af\u30f3\u304c\u6709\u4fa1\u8a3c\u5238\u306b\u3042\u305f\u308b\u304b\u3069\u3046\u304b\u3001KYC\/AML\u306e\u5b9f\u65bd\u65b9\u6cd5\u3001\u7a0e\u52d9\u4e0a\u306e\u53d6\u308a\u6271\u3044\u306a\u3069\u3001\u898f\u5236\u6a5f\u95a2\u306f\u307e\u3060\u6a21\u7d22\u4e2d\u3060\u3002FATF\u3084IOSCO\u306e\u3088\u3046\u306a\u56fd\u969b\u6a5f\u95a2\u306f\u30ac\u30a4\u30c9\u30e9\u30a4\u30f3\u306e\u7b56\u5b9a\u3092\u8a66\u307f\u3066\u3044\u308b\u304c\u3001\u5b9f\u65bd\u72b6\u6cc1\u306f\u56fd\u306b\u3088\u3063\u3066\u7570\u306a\u308b\u3002<\/li>\n\n\n\n<li>\u898f\u5236\u653f\u7b56\u306e\u5909\u66f4\u306f\u3001\u65e2\u5b58\u306e\u30c8\u30fc\u30af\u30f3\u5316\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306b\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u4f1d\u7d71\u7684\u306a\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u306e\u969c\u58c1\u3068\u6163\u6027\uff1a<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4f1d\u7d71\u7684\u306a\u91d1\u878d\u6a5f\u95a2\u306f\u65b0\u3057\u3044\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u3092\u53d7\u3051\u5165\u308c\u308b\u306e\u304c\u9045\u304f\u3001\u30c8\u30fc\u30af\u30f3\u5316\u3055\u308c\u305f\u8cc7\u7523\u3068\u306e\u4e92\u63db\u6027\u306e\u554f\u984c\u306b\u76f4\u9762\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/li>\n\n\n\n<li>\u9ad8\u3044\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u30fb\u30b3\u30b9\u30c8\u3068\u78ba\u7acb\u3055\u308c\u305f\u5e02\u5834\u69cb\u9020\u304c\u3001\u30c8\u30fc\u30af\u30f3\u5316\u306e\u63a8\u9032\u3092\u59a8\u3052\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u30b9\u30de\u30fc\u30c8\u30b3\u30f3\u30c8\u30e9\u30af\u30c8\u306e\u8106\u5f31\u6027\u3068\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306e\u30ea\u30b9\u30af\uff1a<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u30c8\u30fc\u30af\u30f3\u5316\u3055\u308c\u305f\u8cc7\u7523\u306e\u767a\u884c\u3068\u7ba1\u7406\u306b\u4f7f\u7528\u3055\u308c\u308b\u30b9\u30de\u30fc\u30c8\u30b3\u30f3\u30c8\u30e9\u30af\u30c8\u306b\u306f\u3001\u30cf\u30c3\u30ab\u30fc\u304c\u60aa\u7528\u3059\u308b\u53ef\u80fd\u6027\u306e\u3042\u308b\u30d7\u30ed\u30b0\u30e9\u30df\u30f3\u30b0\u306e\u8106\u5f31\u6027\u304c\u542b\u307e\u308c\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u3001\u8cc7\u7523\u306e\u640d\u5931\u306b\u3064\u306a\u304c\u308b\u3002<\/li>\n\n\n\n<li>\u30c8\u30fc\u30af\u30f3\u767a\u884c\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u3001\u53d6\u5f15\u6240\u3001\u30ab\u30b9\u30c8\u30c7\u30a3\u30a2\u30f3\u306e\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u3082\u6975\u3081\u3066\u91cd\u8981\u3067\u3042\u308b\u3002<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u8cc7\u7523\u8a55\u4fa1\u3068\u4fa1\u683c\u6c7a\u5b9a\u306b\u304a\u3051\u308b\u8907\u96d1\u6027\uff1a<\/h4>\n\n\n\n<ul 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class=\"wp-block-list\">\n<li>\u30c8\u30fc\u30af\u30f3\u5316\u306f\u6d41\u52d5\u6027\u3092\u5411\u4e0a\u3055\u305b\u308b\u3053\u3068\u3092\u76ee\u7684\u3068\u3057\u3066\u3044\u308b\u304c\u3001\u5e02\u5834\u53c2\u52a0\u8005\u304c\u4e0d\u5341\u5206\u3067\u3042\u3063\u305f\u308a\u3001\u30c8\u30fc\u30af\u30f3\u306e\u8a2d\u8a08\u304c\u8ca7\u5f31\u3067\u3042\u3063\u305f\u308a\u3059\u308b\u3068\u3001\u30c8\u30fc\u30af\u30f3\u5316\u3055\u308c\u305f\u8cc7\u7523\u306b\u3088\u3063\u3066\u306f\u5b9f\u969b\u306e\u6d41\u52d5\u6027\u304c\u9650\u3089\u308c\u305f\u3082\u306e\u306b\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">DeFi\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u5185\u3067\u306e\u5185\u5728\u7684\u30ea\u30b9\u30af\u306e\u4f1d\u9054\uff1a<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>RWA\u304cDeFi\u30d7\u30ed\u30c8\u30b3\u30eb\u306b\u7d71\u5408\u3055\u308c\u305f\u5834\u5408\u3001\u30d7\u30ed\u30c8\u30b3\u30eb\u306e\u8106\u5f31\u6027\u3001\u30cf\u30c3\u30ad\u30f3\u30b0\u653b\u6483\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u306e\u5931\u6557\u306a\u3069\u3001DeFi\u56fa\u6709\u306e\u30ea\u30b9\u30af\u306e\u5f71\u97ff\u3092\u53d7\u3051\u308b\u53ef\u80fd\u6027\u3082\u3042\u308b\u3002<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u904b\u7528\u306e\u8907\u96d1\u3055\u3068\u30e6\u30fc\u30b6\u30fc\u6559\u80b2\uff1a<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4e00\u822c\u306e\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3001\u30a2\u30bb\u30c3\u30c8\u30fb\u30c8\u30fc\u30af\u30ca\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\u3092\u7406\u89e3\u3057\u53c2\u52a0\u3059\u308b\u3053\u3068\u306f\u3001\u307e\u3060\u4e00\u5b9a\u306e\u969c\u58c1\u304c\u3042\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#443ddf\">5.7 \u30a2\u30bb\u30c3\u30c8\u30fb\u30c8\u30fc\u30af\u30ca\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3\u306e\u958b\u767a\u52d5\u5411\u3068\u5e02\u5834\u5c55\u671b<\/h2>\n\n\n\n<p><strong>\u5b66\u7fd2\u76ee\u6a19<\/strong> \u5e02\u5834\u4e88\u6e2c\u3001\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u53c2\u52a0\u3001\u5c06\u6765\u306e\u767a\u5c55\u306e\u65b9\u5411\u6027\u3092\u7406\u89e3\u3059\u308b\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u5de8\u5927\u306a\u5e02\u5834\u306e\u53ef\u80fd\u6027\uff1a<\/h4>\n\n\n\n<ul 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class=\"wp-block-heading\">\u4f1d\u7d71\u7684\u91d1\u878d\u6a5f\u95a2\u306e\u7a4d\u6975\u7684\u95a2\u4e0e\uff1a<\/h4>\n\n\n\n<ul 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