At the Cyberport CVCF forum in Hong Kong, ME Group CEO Jessica interviewed Xinfire Technology CEO Weng Xiaoqi (affectionately known as "Seventh Master" in the industry). Since taking office in August, he has led the company to launch the Bitfire global brand and private banking-level digital concierge services, and proposed to build a global compliant virtual currency exchange cluster with Bitfire (Hong Kong) and BitTrade (Japan) as dual axes, promoting the compliance and internationalization of Web3 in Asia.
Article author and source: 0xArthur, ME
ME CEO Jessica (left) and Newfire Technology CEO Weng Xiaoqi (right)
Two months, two launches: Bitfire brand and private banking services go live.
"I was officially appointed as CEO of Newfire Technology on August 26," said Weng Xiaoqi at the beginning. "On my first day in office, we released the strategy for the new phase, and on November 5, we officially launched Hong Kong's most distinctive private-class digital concierge service."
This service targets high-net-worth individuals and institutional clients, offering a one-stop experience from "compliant account opening, fund deposits and withdrawals, digital asset allocation, trust management to cryptocurrency investment." Weng Xiaoqi describes it as a "personalized service tailored for financial institutions and professional investors," emphasizing both compliance and efficiency.
At the same time, Newfire Technology launched its new English brand, Bitfire , as the core banner for its global expansion. " Bitfire will carry our internationalization strategy and become the main brand for Newfire Technology's global layout in the coming years," he added.
From Hong Kong to the World: A Globalization Strategy Driven by Two Brands
Jessica mentioned that in recent years, Hong Kong and many other regions have successively introduced favorable Web3 policies, bringing new development opportunities to the crypto industry. Weng Xiaoqi pointed out, "The reason we invested heavily in purchasing a new domain name and launching the Bitfire brand is precisely to comprehensively expand our global market presence."
He analyzed that the global crypto market is showing a "multi-pronged" pattern. "Besides Hong Kong, we see MiCA regulations in Europe, the Middle East, Japan, Southeast Asia, and emerging markets such as South America and South Africa all developing their own unique regulatory systems."
Newfire Technology currently holds Hong Kong's Type 1, 4, and 9 financial licenses and owns BitTrade, Japan's fifth-largest cryptocurrency exchange. Weng Xiaoqi stated, "These represent both a heavy and a light model. We will use these two templates to flexibly deploy new exchanges and business partnerships in different regions."
He further pointed out that the global strategy will adopt a three-tiered structure of "heavy-medium-light":
- Heavy model : Operating directly with a license in certain markets;
- Chinese model : Joint operation with local partners;
- Lightweight model : Modeled after Hong Kong private banks, it provides specialized broker services, connecting local traders and investors.
"Over the next decade, we hope to build a brand new, cross-regional, licensed, and compliant cluster of virtual currency exchanges," he said.
Asia Dual-Hub: The Collaborative Layout of Bitfire × BitTrade
When discussing key markets for the future, Weng Xiaoqi emphasized, "Asia remains our most advantageous region." Newfire will use Bitfire (Hong Kong) and BitTrade (Japan) as its dual core brands to simultaneously promote the implementation of its products and services.
Jessica added with a smile, "You should remember these two names: Bitfire and BitTrade. These are the two pillars of Bitfire Technology's Asian business. One represents a deep foundation in regulation and trading, while the other symbolizes innovation and high-end services."
In the coming year, Newfire Technology plans to build a "middle platform system" to support global operations, extracting the liquidity and core products of its two major brands to form a rapidly replicable global operation template. "We hope that in the next phase, we will not reinvent the wheel, but rather build an architecture that can be launched efficiently."
In addition, Newfire will actively apply for regulatory licenses in emerging markets in multiple locations to expand its compliance footprint.
Conclusion: A Ten-Year Blueprint: A Global Spark Starting from Hong Kong
In a brief conversation lasting only a few minutes, Weng Xiaoqi outlined Newfire Technology's grand vision: from Hong Kong to Japan, from Asia to the world, to promote a balanced development of compliance and innovation through the dual-axis architecture of Bitfire + BitTrade .
"Our vision is to build a truly globalized and compliant virtual asset trading ecosystem within ten years," he concluded.
As for Hong Kong, he sees it as the starting point of the Web3 world: "It is our most important harbor and the origin of New Flame's global journey."
