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<p>Bitfire stablecoin ambitions are accelerating even as the Hong Kong crypto firm posts a HK$245 million half-year loss.</p>
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   <li>Bitfire expects a net loss of up to HK$245 million for the six months through March, nearly 19 times larger than its HK$12.3 million loss a year earlier.</li>
   <li>HK$152 million of the loss came from a decline in the value of Bitfire’s held crypto assets, reflecting weak market conditions in the period.</li>
   <li>Bitfire is expanding into stablecoins and asset management, citing strong demand from institutional and ultra-high-net-worth clients onboarded since August 2025.</li>
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<p>Bitfire <a href="https://www.benzinga.com/Opinion/26/05/52744904/bitfire-accelerates-push-into-stablecoin-business-amid-widening-loss" rel="noopener noreferrer nofollow">reported</a> a profit warning on May 21 disclosing a net loss of up to HK$245 million ($31.28 million) for the six months through March 2026. The loss is nearly 19 times larger than the HK$12.3 million recorded in the same period a year earlier.</p>
<p>The company blamed the widening loss primarily on a HK$152 million value decline on held crypto assets. Rising expenses tied to professional services, customer capabilities and research and development also contributed to the shortfall.</p>
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   <p>新火集團 CEO 翁曉奇 5 月 21 日出席第九屆世界金融論壇年會，分享了關於【融合AI的Web3將成為新時代數字金融底座】的最新思考，並首度拋出了「Web4」的未來願景：… <a href="https://t.co/BCl2J4Y3xD" rel="noopener noreferrer nofollow">pic.twitter.com/BCl2J4Y3xD</a></p>— 新火集团 Bitfire (@_BitfireGroup) <a href="https://twitter.com/_BitfireGroup/status/2057695877016236430?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 22, 2026</a>
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<h2 class="wp-block-heading" id="why-bitfire-is-accelerating-its-stablecoin-push-despite-mounting-losses">Why Bitfire is accelerating its stablecoin push despite mounting losses</h2>
<p>Bitfire CEO Livio Weng has described stablecoins as a “core pillar” of Hong Kong’s Web3 ecosystem and said the firm will prioritise integrating compliant Hong Kong stablecoins into its clearing and settlement systems.</p>
<p>The company has onboarded hundreds of institutional and ultra-high-net-worth clients since its August 2025 strategic upgrade, all of whom have expressed demand for stablecoin access.</p>
<p>You might also like: <a href="https://crypto.news/mexc-spacex-launchpad-subscriptions-surpass-56-million-with-the-offering-oversubscribed-by-up-to-15-5x/" rel="noopener noreferrer nofollow"> MEXC SPACEX Launchpad subscriptions surpass $56 million, with the offering oversubscribed by up to 15.5x </a></p>
<p>Hong Kong’s HKMA <a href="https://crypto.news/hong-kong-expands-crypto-licensing-stablecoin-regime/" rel="noopener noreferrer nofollow">awarded</a> its first batch of stablecoin issuer licences in April 2026, with approval granted only to HSBC and Standard Chartered Bank. That restricted rollout positions Bitfire as a potential integration partner for compliant stablecoins rather than an issuer itself. Bitfire operates under SFC Types 1, 4, and 9 licences plus a Trust and Company Service Provider licence.</p>
<h3 class="wp-block-heading" id="what-the-stablecoin-opportunity-looks-like-for-bitfire">What the stablecoin opportunity looks like for Bitfire</h3>
<p>Hong Kong’s regulatory framework creates a compliance-bounded market that larger global exchanges cannot easily enter. Bitfire’s positioning as a licensed virtual asset manager serving institutional clients gives it a structural advantage in introducing compliant stablecoins to that client base. Crypto.news has <a href="https://crypto.news/hong-kong-to-license-fiat-stablecoins-tighten-va-dealers-and-custody/" rel="noopener noreferrer nofollow">reported</a> on the HKMA’s push to tighten virtual asset dealer and custody rules alongside the stablecoin licensing regime.</p>
<p>Bitfire’s spending blitz on professional services and R&amp;D suggests it is building infrastructure to service institutional stablecoin demand that cannot yet be fully captured under Hong Kong’s restricted rollout pace. Crypto.news has also <a href="https://crypto.news/hong-kongs-sfc-holds-first-ever-crypto-advisory-committee-meeting/" rel="noopener noreferrer nofollow">tracked</a> Hong Kong’s effort to deepen institutional engagement across all licensed virtual asset platforms.</p>
<p>Read more: <a href="https://crypto.news/chainlinks-ccip-stack-drives-110b-in-value-secured-overtaking-defi-oracles/" rel="noopener noreferrer nofollow"> Chainlink’s CCIP stack drives $110b in value secured, overtaking DeFi oracles </a></p>

Bitfire stablecoin push deepens despite 19x loss widening

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