Volcano Exchange (VEX), a global digital trading platform for Real World Assets (RWA), today announced the official launch of its first financial RWA digital asset–HL (Morgan Stanley Private Wealth RWA Token). Backed by the future returns of Morgan Stanley Private Bank’s premium wealth management products, HL has a total issuance of $20 million, corresponding to 200 million HL tokens, with an initial subscription price of $0.1 per token. This issuance marks a deep integration of traditional finance and blockchain technology, offering global investors more transparent, efficient, and flexible digital asset trading and staking services. HL is VEX’s first RWA digital asset underpinned by the revenue rights of a traditional financial institution, with its value directly pegged to the future earnings of Morgan Stanley Private Bank products. Leveraging blockchain technology, VEX transforms high-threshold private banking services into divisible and tradable digital assets, lowering the entry barrier for retail investors while maintaining the stability and compliance of traditional finance. With a total supply of 200 million tokens, HL is available for subscription on the VEX platform at an initial price of $0.1 per token. After the subscription period concludes, HL will be officially listed for trading, becoming VEX’s first RWA digital financial trading pair. Holders can freely trade on secondary markets or participate in value-added services such as staking and lending through VEX’s digital finance sector, maximizing asset liquidity. The launch of HL represents a major milestone in the RWA space. By digitizing traditional financial assets through blockchain technology, we enhance their liquidity and composability. Moving forward, VEX will continue to onboard premium assets from top-tier institutions, building a global RWA financial infrastructure.