Shanghai (Gasgoo)- On August 6, Geely-backed ride-hailing platform CaoCao Inc. signed a strategic cooperation memorandum with Victory Securities to jointly explore tokenization of real-world assets (RWA), stablecoin payment solutions, and compliant digital currency issuance, according to a post on CaoCao's WeChat account.
This marks the first systematic attempt in China's mobility sector to integrate tokenized assets and stablecoins into business operations. For CaoCao, the partnership represents a pivotal move to leverage financial technology in unlocking the value of its green mobility assets and accelerating its Robotaxi strategy.
Photo credit: CaoCao
Gong Xin, an executive director and the CEO of CaoCao, said the partnership is a major step toward embracing the digital economy, laying the foundation for large-scale Robotaxi operations, and monetizing green travel assets. By connecting physical assets to digital finance through RWA, the company aims to enhance capital efficiency, improve liquidity, and establish innovative payment and value circulation infrastructure for an increasingly automated and intelligent mobility network.
CaoCao is already expanding its Robotaxi fleet, having launched pilot operations in Suzhou and Hangzhou earlier this year. The company plans to introduce a custom-built L4 Robotaxi model and develop a fully automated operational system covering maintenance and energy replenishment. With predictable and long-term operating characteristics, Robotaxi services are seen as prime candidates for RWA tokenization. Leveraging blockchain technology and Web3 innovations could significantly accelerate the digitalization of these assets, injecting fresh momentum into the autonomous mobility industry.
As a Geely-incubated mobility service brand, CaoCao has maintained rapid growth. The platform fulfilled nearly 598 million ride-hailing orders in 2024, while Q1 2025 orders surged 51.8% year-on-year. Its battery-swapping network has expanded to 435 stations, supporting both its fleet and external vehicles—creating steady recurring revenue streams. This infrastructure is expected to gain further efficiency with the mass deployment of Robotaxis.
CaoCao said all of its tailor-made vehicles are new energy vehicle models, which have collectively reduced over 3.1 million tonnes of carbon emissions. These sustainability credentials make them attractive assets under global green finance trends. Tokenizing such assets through RWA could transform environmental benefits into quantifiable, tradable digital financial instruments.
By leveraging Victory Securities' regulatory licenses, fund management capabilities, and virtual asset custody expertise in Hong Kong, CaoCao could issue RWA-backed funds or asset-backed tokens under a compliant framework. This approach opens new financing channels and allows the company to showcase its strong operational fundamentals, high-quality green assets, and forward-looking mobility strategy to global investors with blockchain-enabled transparency.
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