Digital Asset Insights
Analysis and perspectives from a firm that operates at the intersection of Bitcoin infrastructure, public markets, and institutional capital in Asia.
What the GENIUS Act Means for Stablecoin Operators in 2026
In the span of one week, the U.S. regulatory framework for stablecoins moved from an abstraction to an operational reality. On April 1, 2026, the U.S. Treasury issued its first notice of proposed rulemaking under the Guiding and Establishing National…
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Analysis
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Hong Kong Issues Its First Stablecoin Licenses. Here Is What It Means.
On April 10, 2026, the Hong Kong Monetary Authority updated its Register of Licensed Stablecoin Issuers. For the first time since the Stablecoins Ordinance…
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What Circle’s cirBTC Tells Us About Where Bitcoin Infrastructure Is Heading
Circle built the institutional trust layer for stablecoins. Now it is applying the same playbook to Bitcoin. On April 2, 2026, Circle announced cirBTC:…
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Hong Kong’s Stablecoin Licensing Delay: What It Signals and What Comes Next
Hong Kong set out to be first. Instead, it is waiting. The Hong Kong Monetary Authority's Stablecoin Ordinance came into effect on August 1,…
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How Asia’s Regulators Are Structuring Stablecoin Oversight: A Framework Guide
Asia's three most institutionally significant stablecoin regulatory frameworks have now all produced operational results or explicit policy positions in 2026. Hong Kong has issued…
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Digital Asset Treasury Strategy: A Primer for Public Company Boards
Bitcoin treasury strategy has moved from an experiment undertaken by a handful of technology companies to a decision that boards of publicly traded companies…
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How to Evaluate a Bitcoin Treasury Company as an Investment
Bitcoin treasury companies occupy a distinctive position in public markets. They are operating companies with Bitcoin holdings that often dwarf their operating business in…
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Understanding STRC: How Strategy’s Preferred Equity Powers Bitcoin-Backed Yield
A new category of yield product has emerged in digital asset markets: instruments that generate returns by holding Bitcoin-adjacent financial instruments rather than lending…
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What Is a Bitcoin Treasury Company?
A Bitcoin treasury company is a publicly traded corporation that holds Bitcoin as a primary or significant asset on its balance sheet, treating it…
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How Stablecoins Are Regulated: A Market-by-Market Overview
Stablecoin regulation has entered its implementation phase. In 2026, the question is no longer whether major jurisdictions will regulate stablecoins, but how quickly each…
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Bitcoin Treasury Strategy in Asia: Why It Is Different
The Bitcoin treasury company model originated in the United States. Strategy's decision to allocate its corporate cash to Bitcoin in 2020 became the template…
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