Economist Fu Peng Joins Bitfire, Declares Crypto’s Entry Into Mainstream Finance
The Chinese macroeconomist takes a senior role at a Hong Kong-listed crypto firm, describing digital assets as entering a historic phase of financial integration
Hong Kong’s expanding digital asset sector is drawing high-profile figures from traditional economics, with Chinese economist Fu Peng joining Hong Kong-listed Bitfire Group in a senior scientific role and publicly arguing that cryptocurrencies have reached a turning point in mainstream financial integration.
What is confirmed is that Fu Peng has been appointed chief scientist at Bitfire, a wealth management and digital asset firm operating under Hong Kong’s regulated virtual asset framework.
He made his first public remarks in the role at a company event in Hong Kong, where he described the current phase of crypto development as a “historical” stage of convergence between finance and technology.
Fu said digital assets had become sufficiently mature to be incorporated into investment portfolios, framing their evolution as part of a broader structural shift in global markets.
He compared the integration of crypto into finance to earlier waves of financial innovation, arguing that the sector is now moving beyond experimentation into institutional adoption.
His appointment comes as Bitfire expands its regulated crypto investment strategy in Hong Kong, including plans tied to Bitcoin-linked products and derivatives-based asset management offerings aimed at institutional investors.
The firm has recently been consolidating trading infrastructure and investment teams from affiliated entities to support this expansion.
Fu’s move is notable in the context of mainland China’s continued restrictions on cryptocurrency trading, which have pushed many related activities toward Hong Kong, where authorities have adopted a regulated but more open framework for virtual assets.
This regulatory divergence has made the city a focal point for firms seeking compliant access to crypto markets.
In his remarks, Fu argued that the crypto industry is entering a new phase defined by deeper integration with traditional financial systems, including potential roles for stablecoins in payments and for Bitcoin as a portfolio asset with both value-preservation and financial utility functions.
The extent to which these views reflect broader policy or market consensus remains uncertain, but they align with a growing trend in Hong Kong’s financial sector, where regulated crypto firms are increasingly positioning digital assets as part of mainstream institutional portfolios rather than speculative instruments alone.
What is confirmed is that Fu Peng has been appointed chief scientist at Bitfire, a wealth management and digital asset firm operating under Hong Kong’s regulated virtual asset framework.
He made his first public remarks in the role at a company event in Hong Kong, where he described the current phase of crypto development as a “historical” stage of convergence between finance and technology.
Fu said digital assets had become sufficiently mature to be incorporated into investment portfolios, framing their evolution as part of a broader structural shift in global markets.
He compared the integration of crypto into finance to earlier waves of financial innovation, arguing that the sector is now moving beyond experimentation into institutional adoption.
His appointment comes as Bitfire expands its regulated crypto investment strategy in Hong Kong, including plans tied to Bitcoin-linked products and derivatives-based asset management offerings aimed at institutional investors.
The firm has recently been consolidating trading infrastructure and investment teams from affiliated entities to support this expansion.
Fu’s move is notable in the context of mainland China’s continued restrictions on cryptocurrency trading, which have pushed many related activities toward Hong Kong, where authorities have adopted a regulated but more open framework for virtual assets.
This regulatory divergence has made the city a focal point for firms seeking compliant access to crypto markets.
In his remarks, Fu argued that the crypto industry is entering a new phase defined by deeper integration with traditional financial systems, including potential roles for stablecoins in payments and for Bitcoin as a portfolio asset with both value-preservation and financial utility functions.
The extent to which these views reflect broader policy or market consensus remains uncertain, but they align with a growing trend in Hong Kong’s financial sector, where regulated crypto firms are increasingly positioning digital assets as part of mainstream institutional portfolios rather than speculative instruments alone.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
