Peng Fu: Traditional financial institutions will quickly enter the crypto market; stablecoins are used for payments

According to public reporting from the April 23, 2026 Hong Kong Institutional Digital Wealth Management Summit, Peng Fu, Chief Economist of Xinhua Group (HKEX stock code: 01611), said at the summit that he has been paying attention to the crypto industry since 2022 and has continued to track developments in the sector. On April 20, Xinhua Group officially announced that Peng Fu had joined the company to serve as Chief Economist. This summit will be his first public remarks after joining Xinhua Group.

Peng Fu’s main remarks at the April 23 summit

According to public reporting from the summit on April 23, Peng Fu made the following statements at the 2026 Hong Kong Institutional Digital Wealth Management Summit regarding the direction of integrating traditional finance and crypto assets:

“Traditional financial institutions will enter the crypto assets market quickly. When they integrate, the logic of the market will announce the arrival of a new era.”

“In the future, we will see stablecoins used for payments, and Bitcoin will become an asset with value-preservation functions and financialized trading.”

“When everyone starts realizing that AI and data computing power will become the most important productive forces of the next era, the game is already past halfway.”

Peng Fu also said at the summit that he will help Xinhua Group build a professional investment research framework for institutional clients, promote digital assets’ entry into the core sequence of global mainstream asset allocation, and help Hong Kong develop into a globally leading virtual-asset financial center.

Xinhua Group’s April 20 official announcement

According to Xinhua Group’s official announcement issued on April 20, Peng Fu officially joined Xinhua Group and will serve as Chief Economist, providing professional support for the company’s macro research and institutional-level investment strategy system construction.

In a statement, Xinhua Group’s Executive Director and CEO, Wen Xiaoqi, said: “Peng Fu’s joining is an important piece of the company’s strategic upgrade. At present, digital assets and traditional finance have achieved ‘physical co-trading.’ Those who operate both are already the same set of institutions and algorithms. With Peng Fu’s deep global macro judgment and precise insights into market liquidity, he will become the company’s top-tier strategic ‘brain’.”

Peng Fu’s personal academic and professional background

According to publicly available information, Peng Fu graduated from the University of Reading (ISMA/ICMA—Institute of International Securities Markets Research) and majored in International Securities, Investment, and Banking. He previously served as Chief Economist at Northeast Securities and formally stepped down in April 2025. Peng Fu’s research focuses primarily on global macroeconomics, financial markets, and asset allocation.

Frequently Asked Questions

What is the official announced date when Peng Fu formally joined Xinhua Group, and what is his title?

According to Xinhua Group’s official announcement released on April 20, Peng Fu officially joined Xinhua Group to serve as Chief Economist, providing professional support for the company’s macro research and institutional-level investment strategy system construction.

What key public remarks did Peng Fu make about the crypto industry at the Hong Kong summit?

According to public reporting from the April 23, 2026 Hong Kong Institutional Digital Wealth Management Summit, Peng Fu said that he has continued to focus on the crypto industry since 2022, and publicly stated that traditional financial institutions will quickly enter the crypto assets market; stablecoins will be used for payments; and Bitcoin will become an asset with value-preservation and financialized trading functions.

What was Peng Fu’s main professional background before joining Xinhua Group?

According to publicly available information, Peng Fu previously served as Chief Economist at Northeast Securities and formally stepped down in April 2025. His academic background is from the ISMA/ICMA School at the University of Reading in the UK, where he majored in International Securities, Investment, and Banking. His research areas cover global macroeconomics, financial markets, and asset allocation.