Web3 launches ERC-7943 standard to simplify compliance and reduce fragmentation in RWA

According to Cointelegraph, the Web3 Company Alliance has launched a new Ethereum token standard ERC-7943, aiming to simplify compliance and reduce fragmentation in the real-world asset (RWA) sector. The standard provides a modular interface suitable for Ethereum layer-2 and EVM chains. Brickken co-founder Dario Lo Buglio said ERC-7943 acts as a "generic layer" to help developers and organizations avoid wrappers and custom bridges. The standard is backed by several Web3 and fintech companies. RWA.xyz data shows that the total value of on-chain RWA tokenization reached US$28.44 billion, an increase of nearly 6%. The total value of stablecoins and asset holders increased by nearly 7% and 9% respectively. Lo Buglio said ERC-7943 responded to developer setbacks and institutional interest, highlighting the demand for new standards by developers and financial institutions. The standard has entered the EIP review phase and has received feedback from compliance professionals. Previous standardization efforts include ERC-1400 and ERC-3643, focusing on hybrid models and compliance assets, respectively. Lo Buglio said ERC-7943 solves industry fragmentation problems by providing a single standardized feature set.