How to identify the "Financial OS" rails being built by China?

Answer

Identifying the new **"Financial OS"** rails requires looking past technical jargon and focusing on **state-backed operational infrastructure.** Munawar suggests monitoring the following markers:

• Scale of Adoption: Look for large-scale, cross-border projects like **mBridge** that move beyond pilots into regional real-time settlement.
• Ecosystem Readiness: Identify platforms that offer **dual-listing tokenization**, allowing assets to move seamlessly between domestic Chinese exchanges and international digital wallets.
• Custody Solutions: Track the development of digital custody infrastructure supported by state institutions or major blockchain consortia within the BRICS bloc.
• Policy Integration: Infrastructure that is directly mentioned in the "Five-Year Plans" as a mechanism for internationalizing the yuan.

Munawar's regular macro analysis helps investors distinguish between **conceptual ideas** and the **physical infrastructure** that is already being bolted into place.