Shanghai (Gasgoo)- CaoCao Inc., a ride-hailing platform backed by Geely, made a significant move on August 6 by signing a strategic cooperation memorandum with Victory Securities. The partnership aims to explore the tokenization of real-world assets (RWA), stablecoin payment solutions, and compliant digital currency issuance in the mobility sector, as reported on CaoCao’s WeChat account.
This collaboration marks a pioneering effort in China to integrate tokenized assets and stablecoins into business operations within the mobility industry. For CaoCao, this strategic partnership signifies a key step in utilizing financial technology to unlock the value of its green mobility assets and accelerate its Robotaxi strategy.
Photo credit: CaoCao
Gong Xin, CEO of CaoCao, emphasized that this partnership is a significant move towards embracing the digital economy, enabling large-scale Robotaxi operations, and monetizing green travel assets. By linking 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 has been expanding its Robotaxi fleet, with pilot operations already launched 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 that includes maintenance and energy replenishment. The predictability and long-term operation characteristics of Robotaxi services make them ideal candidates for RWA tokenization. The integration of blockchain technology and Web3 innovations could significantly accelerate the digitalization of these assets, bringing new momentum to the autonomous mobility industry.
As a Geely-incubated mobility service brand, CaoCao has experienced rapid growth. The platform fulfilled nearly 598 million ride-hailing orders in 2024, with Q1 2025 orders increasing by 51.8% year-on-year. Its battery-swapping network has expanded to 435 stations, supporting both its fleet and external vehicles, generating steady recurring revenue streams. This infrastructure is expected to become even more efficient with the widespread deployment of Robotaxis.
CaoCao highlighted that all its vehicles are new energy models, collectively reducing over 3.1 million tonnes of carbon emissions. These sustainability credentials make them valuable assets in line with 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 expertise, and virtual asset custody capabilities in Hong Kong, CaoCao could issue RWA-backed funds or asset-backed tokens within a compliant framework. This approach opens up new financing opportunities and allows the company to showcase its operational strengths, high-quality green assets, and future-oriented mobility strategy to global investors with enhanced transparency through blockchain technology.
