Cypher Asia 2026 Hong Kong Summit Concludes Successfully: 22 Industry Leaders Discuss the New Future of Intelligent Crypto Finance

On August 28, 2026, the Cypher Asia Summit, hosted by Fosun Wealth Holdings, FinChain, ME, and Nonce, with co-hosts OASES, Sanwei Security, Excepta, and SlowMist, concluded successfully at Cyberport in Hong Kong. The summit centered around the theme of "Intelligent Crypto Finance," gathering over 20 industry leaders from around the globe, covering various fields including traditional finance, blockchain, AI, security, and law. During the 8-hour intellectual feast, guests engaged in deep discussions on cutting-edge topics such as RWA, stablecoins, AI Agents, quantum security, and tokenization, presenting a panoramic view of the era of intelligent crypto finance.

On the day of the event, FinChain CEO Zhao Chen officially launched a mirror trading solution developed in collaboration with KuCoin: users can have FUSD held by licensed custodians, executing strategies and managing positions through collateral value mapping in their trading accounts, completely isolating principal and exchange credit risks. The solution garnered significant attention from attending institutions upon its debut. Both parties officially announced the completion of technical integration for FUSD in terms of custody and collateral value mapping, connecting it to the KuCoin RWA Collateral Mirroring Solution (RCMS), marking the transition of mirror trading from launch to full implementation.

Zhou Geng - Traditional Asset Management $6 Trillion vs On-chain Tokenization $30 Billion, On-chain Asset Management Track Just Opened

At the summit's opening, Zhou Geng, President of Fosun International Asset Management, delivered a keynote speech discussing the development trends of the Web3 and RWA tokenized asset management industry.

He pointed out a significant supply gap in the current on-chain asset market: the total global stablecoin supply is about $300 billion, while the scale of on-chain tokenized assets is only $30 billion, with fewer than 1 million users participating in tokenized assets. In contrast, the overall size of money market funds is approximately $6 trillion, indicating a vast growth space between the traditional asset management market and the on-chain tokenized asset management track.

Zhou Geng shared industry outlooks on developments in on-chain fixed income, quantitative hedging, and tokenization of unlisted equity, believing that the industry is expected to gradually build a more complete on-chain asset management ecosystem.

Han Feng - Independent Researcher at Harvard University: Bitcoin Energy Stablecoin BTCD Officially Launched

Han Feng, a researcher at Harvard University and a legendary figure in the crypto space, shared the birth story of the "Bitcoin Reserve" and officially launched the Bitcoin-based energy stablecoin BTCD.

From a macro perspective, Han Feng referenced Ray Dalio's debt crisis theory, stating that the world is facing a once-in-a-century debt crisis, with U.S. debt exceeding $40 trillion and annual interest payments surpassing the U.S. Navy's budget. The only way to resolve this crisis is to introduce hard currencies—gold and Bitcoin.

The core innovation of the Bitcoin Reserve lies in: first, achieving Bitcoin staking without liquidation for the first time, maintaining stablecoin stability through investment operations, stepping outside the Ethereum smart contract liquidation logic; second, being the world's first stablecoin that does not rely on the banking system, truly aligning with the pure algorithmic payment logic of AI Agents. Han predicts that by around 2035, the economic scale of AI entities will exceed that of human economies by $100 trillion.

Edwin Wong - Vice President of KuCoin: Hong Kong Accelerates Institutionalization of Digital Assets, Building a "Four-Layer Trustworthy" Foundation for Long-term Trust

Edwin Wong, Vice President of KuCoin, stated that with an increasingly clear regulatory framework, a mature financial system, an international capital market, and unique advantages connecting Asia and the world, Hong Kong is becoming an important hub for the global institutionalization of digital assets. As digital assets further move towards institutionalization, market demands on platforms are extending from products, trading, and liquidity capabilities to whether they can establish a long-term, systematic, and verifiable trust foundation. For institutional participants, "trustworthy" needs to be built on four mutually supportive levels: legal trustworthiness, technological trustworthiness, security trustworthiness, and accountability trustworthiness.

Among these, legal trustworthiness emphasizes continuous and systematic compliance capabilities; technological trustworthiness requires stable, high-performance, and scalable infrastructure; security trustworthiness encompasses asset protection, transparency, risk management, and business continuity; accountability trustworthiness means adhering to user interests and long-term development.

Edwin pointed out that the higher the degree of institutionalization in the digital asset market, the higher the demands for trustworthiness. As Hong Kong further connects traditional finance with the digital asset market, a trustworthy infrastructure that spans law, technology, security, and long-term accountability will become an important foundation for driving digital assets further into the mainstream financial system.

Liu Huiyi - CTO of Sanwei Security: Data Security and Quantum Threats in the Era of Intelligent Crypto Finance

Liu Huiyi, CTO of Sanwei Security, analyzed the security of financial infrastructure against the backdrop of rapid developments in AI and quantum computing, delving into the new risks brought by intelligence and automation, as well as the potential impact of quantum computing on existing cryptographic systems.

Liu pointed out that the financial security system is facing two structural challenges: on one hand, the widespread application of AI Agents has significantly enhanced the automation and real-time levels of business operations, further amplifying risks such as identity impersonation, unauthorized access, data breaches, and automated attacks, necessitating an upgrade of the traditional security system primarily focused on boundary protection; on the other hand, continuous breakthroughs in quantum computing pose long-term and fundamental threats to public key cryptographic systems like RSA and ECC. Research shows that the number of logical qubits required to crack a 256-bit elliptic curve password has significantly decreased, prompting financial institutions to accelerate the migration to post-quantum cryptography and upgrade cryptographic infrastructure.

In response to these challenges, Liu introduced the full-stack security capabilities built by Sanwei Security around "cryptographic foundation, data security, and intelligent applications," including XS200 quantum-resistant cryptographic chips, hardware security modules (HSM) certified by the U.S. FIPS 140-3 Level 3, intelligent semantic firewalls, model signatures, and hardware-level encryption, as well as MPC wallets tailored for AI Agent application scenarios, providing comprehensive security guarantees covering chips, keys, data, models, and applications, assisting financial institutions in achieving safe, trustworthy, and compliant development during their intelligent transformation.

Liu Mu - CVC Partner in a Certain Industry: Investment Map of the AI Super Cycle

Liu Mu, a partner at a certain industry CVC, systematically outlined the complete investment framework of the AI super cycle based on his 16 years of industry and investment experience.

Liu Mu predicts that with ChatGPT reaching 100 million users in just two months, the AI super cycle has begun in 2023, lasting approximately 5-8 years, and is likely already past its halfway point. The AI cycle will be shorter and more intense than any previous technological revolution, with bubble points potentially appearing in 2027-2028.

The five major investment directions in the industrial chain are: computing power infrastructure, chips and components, large language models, commercialization of Agents, and physical AI and embodied intelligence.

Liu Mu particularly pointed out that the funding sources for computing power construction may become the next breakthrough point—drawing parallels to the credit logic of Bitcoin mining machines, tokenization may become a new monetary commonality for AI computing power financing, which is a key node for the deep integration of AI and Crypto.

Colin - Executive Director of Xinglu Technology: Launch of FinTAAS Platform, RWA Issuance Enters the Era of Transparency and Inclusivity

Colin, Executive Director of Xinglu Technology, officially launched the FinTAAS platform, aimed at addressing long-standing industry pain points such as opaque issuance costs, non-standard processes, and lack of subsequent circulation.

Colin emphasized that Xinglu, as Asia's leading RWA platform, has achieved distribution through licensed institutions in Hong Kong, VATP distribution, and Singapore institutional distribution, and can connect to exchanges and on-chain Staking under a compliant framework. The goal of FinTAAS is to link Hong Kong's compliant RWA ecosystem with the global market, ensuring that issuance is no longer a privilege of a few.

Zhao Chen - CEO of FinChain: FUSD and Mirror Trading, Restructuring On-chain Liquidity

Zhao Chen, Managing Director of Fosun Wealth Digital Assets and CEO of FinChain, systematically introduced Asia's first multi-chain RWA-based stablecoin FUSD (Yield Bearing Stablecoin FUSD).

Currently, there is a severe lack of liquidity on-chain, with all liquidity being limited to USDT/USDC. FUSD introduces multiple compliant on-chain RWAs, bringing traditional interest-bearing assets on-chain, making it more like a cash equivalent.

He also launched a mirror trading solution in collaboration with KuCoin: users deposit FUSD with licensed custodians, completely isolating the principal—KuCoin releases USDT for users to execute trading strategies on the exchange—FUSD itself provides a base yield of 3.4-3.5%, with additional market-neutral strategy yields achieving a total return of 8.5% or more.

Zhao Chen also revealed that FinChain has been advancing on-chain DeFi products on Monad and SOLANA. In March, they released a dispatch protocol for providing on-chain identity authentication for Agents, building the underlying infrastructure for intelligent crypto finance.

Wang Weiwei - Partner at JunHe Law Firm Hong Kong: Comprehensive Analysis of the Legal Framework for Compliant RWA Issuance in Hong Kong

Wang Weiwei, a partner at JunHe Law Firm in Hong Kong, systematically reviewed the regulatory framework and practical pathways for compliant RWA issuance in Hong Kong from a legal compliance perspective. The compliant issuance of RWA in Hong Kong essentially involves two processes: securitizing assets through fund or note issuance + tokenizing securities ownership on the blockchain. Compliant tokenized issuance in Hong Kong must adhere to the regulatory principle of "same business, same risk, same rules," treating tokenized securities as digital packaging of traditional securities through a penetrating identification approach, while the Securities and Futures Commission gradually opens up primary and secondary markets and relaxes restrictions on professional investors, requiring product providers and licensed intermediaries to bear ultimate responsibility and strengthen additional risk management in technology, custody, and cybersecurity.

Zhang Huande - Oases Director at the Hong Kong Financial Secretary's Office: How the Hong Kong Government Supports Financial Technology Innovation

Zhang Huande, Oases Director at the Hong Kong Financial Secretary's Office, provided a comprehensive introduction to the policy system supporting Web3 and financial technology innovation in Hong Kong from the government perspective. The five major technology sectors are: financial technology, AI, cultural creativity, life and health, advanced manufacturing, and new energy. Hong Kong, as a global financial center, boasts strong credentials: 70 of the world's 100 largest banks have established a presence in Hong Kong; over 3,300 family offices have surpassed Switzerland to become the world's leading wealth management center.

Core policy highlights include: tax incentives for intellectual property, gold strategy, stablecoins, RWA, AI, and the Northern Metropolis.

Zhang Huande also introduced Hong Kong's talent policy system: High Talent Pass, Quality Migrant Admission Scheme, Talent Scheme, and Investment Immigration, welcoming global tech talents and projects to settle in Hong Kong.

Jiang Guofei - President of Yunfeng Financial: The Dual-layer Architecture of Next-generation Digital Financial Infrastructure

Jiang Guofei, President of Yunfeng Financial, proposed a dual-layer architecture of AI+Web3, interpreting the next-generation digital financial infrastructure.

He mentioned that Web3 has gone through multiple cycles of bull and bear markets, establishing large-scale infrastructures such as public chains, smart contracts, and trading platforms. Traditional financial giants like BlackRock and Fidelity are also embracing on-chain clearing and settlement capabilities. Currently, RWA has only completed the simplest step of digitizing standardized assets, and scaling requires breaking through three closed loops:

• Data Layer: Provides basic information, creating market information asymmetry;
• AI Layer: Processes massive amounts of data, forms asset analysis, and builds cognitive differences;
• Web3 Execution Layer: Achieves on-chain execution in seconds, compressing the time difference of risk exposure.

AlphaToken, under Yunfeng, is building an institutional-level asset standardization and tokenization platform, forming an automated closed loop of "data input - AI strategy generation - on-chain execution - status update." Jiang Guofei likened this system to an embodied robot in the financial field, achieving full-process automation from financial analysis to execution.

Professor Lin Chen ------ Vice President of the University of Hong Kong (Business Strategy), Executive Director of the HKU-Standard Chartered Charity Fund FinTech Academy: Tokenized Stocks ------ Money Never Sleeps

Professor Lin Chen, Vice President of the University of Hong Kong (Business Strategy) and Executive Director of the HKU-Standard Chartered Charity Fund FinTech Academy, conducted an in-depth analysis of the explosive growth and future trends of tokenized stocks under the title "Money Never Sleeps."

Professor Lin revealed data showing that the tokenized stock market has grown approximately 29 times in the past year, with the current market capitalization on-chain around $1.8 billion, covering nearly 300 tokens, and a 24-hour trading volume of $510 million, of which 96% are wrap versions.

Professor Lin shared three existing issuance models for tokenization:

• Wrap Type (most popular): Holds real stocks through SPV and trades certificates issued by SPV.
• Mapping Type: DTCC will officially launch this in October, with the registry still at DTC, and the on-chain records are mapping rights.
• Native Issuance Type: Figure directly issues stocks on its own public chain Provenance, without custodial brokers or going through DTC, with the public chain itself serving as the registry.

Professor Lin pointed out that the current $1.8 billion in on-chain stocks is only one ten-thousandth of the global $160 trillion stock market. Based on the more than 20 times growth in the past year, this sector will continue to grow rapidly, and the replacement of infrastructure has just begun.

Wu Feng ------ Partner at Aurora Capital: Discussion on New Opportunities in Blockchain Under Integration

Wu Feng, a veteran Web3 investor, provided industry insights and proposed three key elements to observe in the industry: traffic, liquidity, and compliance. Under the wave of traditional asset tokenization, assets are becoming homogenized, and the future trading venue will trend towards oligopolistic competition. Traditional financial institutions are internalizing Web3 technology rather than simply being disrupted by the crypto industry. He reminded entrepreneurs to focus on asset supply, trading scenarios, and lending infrastructure, while also advising a rational view of bubbles, emphasizing that only projects with real cash flow and real users can survive the bull and bear markets.

Wu Feng suggested that the next important competitive high ground in the industry is the All-in-One super application. The ideal product form is one that allows users to complete registration, deposit, and various asset transactions within three minutes while accommodating both fiat and on-chain tokens. Whoever can streamline this user experience will have the opportunity to capture a large number of incremental users.

Do not simply replicate overseas models; localization should be done in conjunction with local regulatory environments, funding structures, and user needs. Focus not only on "issuing tokens" but also think about what real-world pain points can be solved after assets are tokenized.

Kong Jianping ------ Founder of Nano Labs: Web4.0 ------ A New Era of Autonomous Execution by Intelligent Agents

Kong Jianping, founder of Nano Labs, shared insights on the concept of Web4.0 and industry trends. He pointed out that human society is transitioning from the agricultural era, industrial era, and internet era to the era of intelligent agents, where the scale of the AI economy will grow rapidly and have a profound impact on industries and society. Regarding whether "AI has a bubble," he believes that token consumption is an important indicator of real demand; as long as token usage continues to grow rapidly, it indicates that the demand for AI applications is still expanding.

He also noted that Web3 and Web4 can deeply integrate, with chip and computing infrastructure extending from blockchain computing to AI reasoning and data centers. In the future, the internet will upgrade from "information internet" to "action internet," where AI will move from providing information to autonomously understanding tasks, invoking tools, and completing executions, further reconstructing enterprise organizational methods and social production relations.

Zhu Junwei ------ Chairman and CEO of Solana Company (NASDAQ: HSDT): The Path of Integration from the Real Economy to AI

Zhu Junwei, Chairman and CEO of Solana Company, delivered a thematic presentation titled "Intelligence Meets On-Chain Finance: The Path of Integration from the Real Economy to AI," analyzing the landscape of the dollar-dominated stablecoin industry and elucidating the value of high-performance public chains in the AI Agent era.

Solana, with its extremely low transaction costs, sub-second settlement confirmations, and 24/7 operation, meets the high-frequency, small-amount automatic payment settlement needs of AI Agents. Currently, Solana accounts for about 80% of the trading volume of leading public chains, with a monthly stablecoin transfer volume of $650 billion, ranking first across all chains. It has already integrated with 11 global systemically important banks and 10 of the top 20 global asset management institutions, implementing compliant stablecoins, RWA clearing, and intelligent agent payment scenarios.

Zhu Junwei is very optimistic about the AI-Crypto innovation opportunities in Asia. Leveraging the large real economy and cross-border trade demands, combined with Hong Kong's clear regulatory framework, Asia is expected to give birth to differentiated applications distinct from North America, achieving breakthroughs in cross-border payments, trade financing, and regional asset tokenization. He positions Solana as the Internet Capital Market, continuously serving on-chain innovations for institutions and the real economy.

Sistine ------ Co-founder of Excepta: There Is No Correct Pricing in the World ------ Investment Philosophy in the AI Era

Sistine, co-founder of Excepta, shared her investment insights and methodology in the AI era under the title "There Is No Correct Pricing in the World." She pointed out that price does not equal truth; it is a consensus reached at a moment by various factors such as information, capital, and constraints. Excepta is positioned as a "Compute Intelligence Company," and its core philosophy can be summarized in three sentences:

• AI is the Engine: Responsible for discovering and updating judgments.
• Capital is the Media: Bringing discovered judgments into the real world for validation and deployment.
• Finance is the Infrastructure: Where trading, settlement, data backtracking, and updates occur.

Sistine emphasized that deviations do not remain fixed; they appear, expand, and disappear. The key is to cultivate the ability to discover deviations. AI's role is not to find static answers but to be an ever-searching engine and radar, continuously scanning the entire market to discover markets, pricing relationships, and execute dynamically.

The core of Excepta is a cognitive system rather than a simple model—modeling each target in the real world and building a decision-making logic suitable for the new era with AI assistance based on 20 years of investment experience, automatically optimizing effective signals and improving ineffective signals. Once the application in the financial market matures, Excepta also plans to promote this model across markets and asset fields, including cross-border trade and the value deviation arbitrage of non-financial assets such as bulk physical assets.

Livio, CEO of New Fire Group: The Core Narrative of AI and Crypto Integration May Focus on the "Machine Economy"

Livio Weng, CEO of New Fire Group Bitfire, delivered a keynote speech at the CYPHER ASIA Smart Crypto Finance Summit, discussing the deep integration of AI and Crypto and the latest strategy of New Fire Group.

Livio believes that in the coming years, the core narrative of AI and Crypto integration may focus on the "machine economy" (agential economy). As AI identity recognition, authorized wallets, payment protocols, and other infrastructures continue to mature, AI will gradually gain the ability to autonomously use, manage, and trade assets, deeply integrating with existing crypto industry operations such as trading, prediction markets, asset management, and payments. Autonomous AI Agents are expected to become important participants in the Crypto ecosystem.

Finally, Livio systematically introduced New Fire Group's latest strategy, as New Fire actively embraces RWA, seizing opportunities for the integration of AI and Crypto. On August 26, New Fire officially announced the launch of RWA comprehensive operator services and released Hong Kong's first compliant crypto asset quantitative strategy, which is expected to provide more cross-asset allocation and risk hedging opportunities through the introduction of RWA assets, helping investors balance the fluctuations of different asset classes and market cycles.

Evan Auyang ------ Group President of Animoca Brands: The Evolution of Stablecoins and the Future of Agentic Web

Evan Auyang, President of Animoca Brands, delved into the evolution of currency, innovation in stablecoins, and the new paradigm of the Web in the AI Agent era.

Evan Auyang pointed out that the functions of currency will not disappear but will evolve over time: cash → cashless (Octopus) → digital wallets → tokenized currency (programmable currency). The growth of tokenized currency is extremely rapid, with its core value lying in cost savings.

Hong Kong's unique advantages: CBDC (Central Bank Digital Currency), stablecoins, tokenized deposits.

Evan Auyang noted that while the U.S. is the most advanced in digital assets, it does not pursue CBDC—because maintaining dollar hegemony is necessary, and CBDC would undermine the dollar's dominant position. However, from the U.S. Treasury's intervention in the bond market, it can be seen that the U.S. will be more proactive in maintaining the importance of the dollar.

In the popular narrative of AI agents, Evan Auyang emphasized that the ultimate winners are not the large models themselves but the application layer. Web2 is the attention economy, Web3 is the token economy, while Web4/Agentic Web is the invocation economy—invoking agents to work collaboratively, with interactions between agents dominating the internet.

Liu Fangwei ------ Global Partner at Fosun, CEO of Fosun Ruijing: AI Business Going Global and the Physical Body of Intelligent Agents

Liu Fangwei, Global Partner at Fosun and CEO of Fosun Ruijing, provided an in-depth analysis of the new paradigm of AI business going global and the core anchor points of the physical body of AI intelligent agents.

• Old Paradigm: Products/commodities going overseas, from trade → private labeling → distribution → refined distribution, essentially a traffic business, with core capabilities in user acquisition, while data and user identities are controlled by Meta and Amazon.
• New Paradigm: Ecosystems/services going overseas, using AI's native capabilities to take root abroad, managing and reaching user lifecycle data through intelligent agents in a closed loop, accumulating data + scenarios + trust as a core barrier.

Liu Fangwei proposed two methodologies for going global:

• The time machine theory is failing: Different countries have different processes of industrialization, urbanization, and informatization (progressing in order / synchronously / leapfrog effect), requiring market selection based on these three processes.
• Developed countries are suitable for link-type entrepreneurship (lightweight), while developing countries are suitable for infrastructure-type entrepreneurship (heavy).

Liu Fangwei emphasized that Web3 is not a speculative tool, but a financial infrastructure for AI agents. Fosun Rui Zheng hopes to invest in projects that can transcend physical worlds and national borders, accompanying entrepreneurs to the end.

Yu Xian ------ Founder of SlowMist: The Gray Rhino and Black Swan in the Crypto World ------ A Practical Guide to Security Defense

Yu Xian, founder of SlowMist and a legendary figure in the international white hat hacker community, shared practical experiences in crypto asset security defense under the theme "The Gray Rhino and Black Swan in the Crypto World." He stated that the vast majority of security incidents in the industry belong to gray rhino risks (predictable and high probability), rather than unpredictable black swans.

• Gray Rhino: High probability, significant impact, with early signs that have been long ignored;
• Black Swan: Extremely difficult to foresee, very low probability, and huge impact.

Yu Xian outlined four main categories of popular security issues in the industry: theft of funds, fraud, loss of funds, and frozen funds. Among these, the category of theft includes high-frequency risks on the personal side: mnemonic phrase leaks, clipboard hijacking, malware, social engineering with forged audio and video, and counterfeit hardware wallets. On the institutional side, risks are concentrated in internal personnel misconduct, chaotic permission management, single points of failure, and supply chain poisoning.

Yu Xian emphasized that the proportion of security incidents with good outcomes is less than 1%, and proactive defense is far more important than post-incident recovery. He concluded with three major security rules:

• Question everything: From people to code, including himself ------ any WeChat communication involving funds must be questioned, let alone Telegram and WhatsApp.
• Double Check: Any critical operation must have dual verification.
• Continuous Verification: Use AI to verify suspicious points, screenshot to AI for scam recognition.

Lin Zhanyan ------ Chief Business Officer and Co-founder of Anchorpoint: The Official Launch of the HKDAP Stablecoin

Lin Zhanyan, Chief Business Officer and Co-founder of Anchorpoint, one of the only two licensed stablecoin institutions in Hong Kong, introduced the issuance progress and ecological layout of the HKDAP stablecoin.

Anchorpoint was jointly established by Standard Chartered Bank Hong Kong, Animoca Brands, and HKT. In the second quarter of this year, it officially obtained a licensed stablecoin issuer license from the Hong Kong Monetary Authority.

Lin Zhanyan introduced that HKDAP is denominated in Hong Kong dollars, is regulated by the Hong Kong Monetary Authority, and adheres to the internal risk control and compliance framework of Standard Chartered Bank, making it a stablecoin built by a centralized compliant institution utilizing the advantages of public chains.

Anchorpoint's business model is very singular ------ focusing solely on issuance and not engaging in other financial payment services to avoid any business conflicts with distributors. By connecting with licensed compliant institutions as distributors, these distributors serve end-users and corporate clients.

In the coming months, more ecological collaborations will be announced, including asset management companies, acquiring institutions, payment platforms, etc., which will participate in the ecosystem in various forms, leveraging compliance capabilities to develop their own products and services.

Wu Ming ------ CTO of 0G.AI: The Technical Architecture of Decentralized AI Operating Systems

Wu Ming, CTO of 0G.AI, a PhD in computer science from the Chinese Academy of Sciences and a published author in top conferences in operating systems and distributed systems, provided an in-depth introduction to 0G's technical layout in the field of decentralization and AI integration.

Wu Ming pointed out that centralized AI has three core issues: transparency issues, risks of inconsistent values, and economic unfairness. 0G's solution: a decentralized AI operating system, with an architecture that includes: bottom layer -- proprietary public chain, middle layer -- decentralized computing network + decentralized storage network, incentive layer -- Service Marketplace, interface layer -- enabling AI applications to migrate from Web2 to Web3.

Wu Ming introduced 0G Private Compute (pc.0g.ai), a privacy-preserving computing service for AI applications. Relying on TEE (Trusted Execution Environment), AI model inference can run in an isolated secure space, preventing sensitive data from being stolen or leaked during computation. It combines privacy protection with verifiable computing capabilities, creating a trusted computing foundation for personal AI assistants, enterprise operations, and autonomous agents, allowing users to effectively safeguard personal data and business secrets while using AI. The entire infrastructure is designed for AI agents, addressing the opacity and computing power monopoly of centralized AI, enabling decentralized completion of AI training, inference, and data storage, providing verifiable DeAI foundational infrastructure for the Web3 world.

Tina ------ Ecosystem Leader of Monad Foundation: The Blockchain Account Security Revolution Under Quantum Computing Threats

Tina, the ecosystem leader of Monad Foundation, opened with a thought-provoking figure ------ 2.3/10, which is the current quantum readiness score of the Hong Kong banking industry, with the Hong Kong Monetary Authority requiring a score of 10/10 in the coming years.

Tina pointed out that the blockchain industry should be more concerned about quantum readiness than banks. The reason is simple: bank accounts are centralized and can be updated; blockchain accounts cannot. Monad's core solution is 'you can change the lock while keeping the house.' Three major innovations: separation of keys and addresses, support for changeable authentication credentials, and support for in-situ upgrades to quantum-resistant cryptographic schemes.

Tina emphasized that the next era of blockchain is not about performance, but about upgradable accounts. If banks are already preparing for quantum resistance, only blockchains that do the same can survive. She called on practitioners in finance and cryptography to pay attention to relevant proposals and provide feedback.

Cheryl Chan, Director of Strategic Development at Kamino: From DeFi Lending to Institutional-Level On-Chain Credit Infrastructure

Cheryl Chan, Director of Strategic Development at Kamino, shared the ecological construction and institutional landing progress of Kamino, a leading lending protocol on Solana.

Kamino has connected with licensed exchanges, mainstream wallets, compliant custodians, prime brokers, and several stablecoin issuers. This includes exploring the combination of custody and on-chain credit markets with Anchorage Digital; FalconX integrating Kamino's fixed-rate lending into structured credit products, while Kamino is also a core application scenario for PYUSD in the Solana ecosystem.

Cheryl presented a counterintuitive viewpoint in the industry: significant asset losses in the crypto space do not all stem from smart contract vulnerabilities; price manipulation caused by oracle misconfigurations, multi-signature and program permission issues, and other off-chain operational management oversights are the primary sources of high-frequency risks.

Kamino relies on multi-source data redundancy, circuit breaker mechanisms, and anomaly detection systems to strengthen oracle security. With a rigorous risk control system, Kamino is gradually becoming the core on-chain credit infrastructure for institutions to access on-chain finance.

Gary Yang ------ Founder of Finch: The Ultimate Vision of AI-Native Economy and A-to-A Economy

Gary Yang, founder of Finch, as the closing guest, systematically elaborated on the investment philosophy of the AI era, AI-native economic protocols, and the ultimate vision of A-to-A (Agent-to-Agent) economy, drawing on over twenty years of investment experience and a background in physics from Tsinghua University.

Gary likened AI to a black hole: getting too close will be swallowed by its immense gravity, making it difficult to break through in areas dominated by large companies; staying too far away will lead to being thrown off course, gradually losing touch with the cutting edge. Only by maintaining a stable state, keeping a certain distance from large companies, and finding one's own niche to do what large companies cannot, do not want to, or dare not do, can one avoid losing oneself. Finch is a product of this trajectory.

Gary's judgment is very clear: AI needs new economic infrastructure. Currently, both Chinese and North American tech giants are still in a relatively early stage in the integration of AI and on-chain economy, and the industry landscape has yet to take shape, leaving a window of opportunity for startups.

Finch's chosen path is to build an AI Marketplace: allowing AI capabilities, agent services, and skills to become priceable and tradable on-chain assets, enabling value to flow freely between agents.

Gary pointed out that we are at the starting point of a new Kondratiev wave cycle. The keyword for this stage is "Think Differently," with abundant opportunities. Capital operations are the concern of the end of the wave, while at the beginning of the cycle, it is more important to quickly organize resources, create new things, and establish new systems.

Conclusion

The Cypher Asia 2026 Hong Kong Summit concluded successfully with Gary Yang's keynote speech. From the foundational infrastructure and compliance in the morning to the application explosion and ecological prosperity in the afternoon.

As the host said at the closing: "There will be times when we ride the winds and break the waves, directly hanging the cloud sails to cross the vast sea." The curtain on intelligent encrypted finance has just been raised, and Cypher Asia will continue to gather industry leaders to contribute the power of thought to the industry.

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