Meituan

In China's biggest cities, Meituan is how tens of millions of people get dinner delivered, book a haircut or find a hotel. Wang Xing founded it in 2010, and it grew by merging the group-buying and restaurant-review businesses that became Dianping. The core money-maker today is on-demand delivery: a vast fleet of couriers moving food and, increasingly, groceries and medicine within the hour. Around that sit in-store services, travel booking and instant retail.

The model is a classic marketplace, taking a cut of each transaction and selling ads and delivery to merchants who need the foot traffic. Scale is the whole game here, because the delivery network is expensive to run and only pays off at high order volume. That is also the risk: margins are thin, and Chinese regulators and rivals like Alibaba's Ele.me keep the pressure on.

On MyRWA, MEITUAN trades tokenized across 2 on-chain venues - see the listings below.