BIT受邀在Beyond Expo 2026发言，券商直投美股引领新范式

On May 29, Elio Cui, Head of BIT Brokerage, was invited to participate in a roundtable discussion at the BEYOND Expo 2026—Web2+3 Wealth Forum held in Macau. Alongside other panelists, he explored the genuine growth path for the next phase of Web3. The roundtable theme was:  "How Can Web3 Reach a $10T Market Cap?"

This roundtable brought together top executives from the Web3 and traditional finance sectors to discuss the institutionalization path of the crypto market, new asset classes, and regulatory milestones. Joining Elio Cui on the panel were Xuanfeng Hu, Director of Digital Assets at Fosun Wealth; Victor Qian, Vice President of Sales and Trading at Galaxy; Brian Chen, Head of Wealth Management at Hong Kong-licensed digital asset platform OSL; and Muse Zhou from infrastructure provider Width. The panelists engaged in an in-depth and lively discussion on topics such as "The Realistic Thresholds for Institutional Capital Entry", "Whether RWA or Derivatives Will Drive the Next Trillion", and "The Path from $4T to $10T Market Cap."

Key insights from Elio Cui, Head of BIT Brokerage, during the discussion included:

First, BIT (formerly Matrixport) is an industry-leading one-stop digital asset services platform, established in 2019. In February of this year, it pioneered an innovative direct brokerage model for U.S. equities, allowing users to seamlessly transfer stablecoins to a BIT securities account for instant deposits to purchase real U.S. stocks—unlike the industry norm of trading tokenized stock price proxies. We made this very firm strategic choice as early as last year while still preparing the product. This decision stems from the company's seven-year heritage of serving institutions and high-net-worth clients, driven by a long-term value-oriented philosophy.

BIT's direct brokerage model for U.S. stocks is realized through a compliant architecture and upstream/downstream partners:

-  Facilitating stablecoin-to-fiat conversion in accordance with applicable regulations

- Holding a financial services license in Bhutan, enabling users to compliantly and securely purchase and hold securities

- Connecting with licensed financial partners, including U.S. clearing brokers

Second, regarding how Web3 can achieve a $10 trillion market cap, Elio believes the primary issue is "how to enable institutions to compliantly purchase these assets."  

"We actually discussed this question back in 2017 when Bitcoin was still widely questioned. At the time, the thinking was that if all the world's sovereign wealth funds and pension funds allocated just one-thousandth or even one-hundredth of their assets to Bitcoin, its price would skyrocket. We all thought it was a pipe dream back then, even for industry insiders. But perhaps in less than a decade—just seven or eight years—we've truly witnessed it: products like IBIT's ETF have reached tens of billions in assets under management, and many sovereign wealth funds, pension funds, and compliant capital channels have entered Web3.

So, how do we get to $10 trillion? My assessment remains the same as a decade ago—if there are compliant channels enabling more people to buy and hold these assets, the market cap will naturally rise."

Third, Web3 assets currently face the following difficulties in attracting substantial capital:

1) Client Trading Preferences

From an individual investor perspective, our recent business data shows that the volume of funds and users using stablecoins to buy U.S. dollar-denominated assets (U.S. stocks) significantly surpasses those using fiat to purchase Crypto Altcoins. Currently, due to the wealth effect in the U.S. stock market, retail investors are rushing in, and wealth hotspots and paradigms are shifting.

2) Institutional Entry Barriers

From an institutional viewpoint, Portfolio Management spanning traditional and digital assets remains an industry pain point. The custody systems, management institutions, and settlement rules for these two asset classes are entirely different, leading to low capital efficiency in cross-category allocation. Leverage usage and position management are also difficult to coordinate—many institutions essentially manage the same client's assets using two completely separate infrastructures. This structural barrier, however, defines the true moat: companies capable of bridging traditional finance and digital assets, and connecting these two infrastructures, derive their competitive advantage not from piling up product features, but from years of accumulated compliant architecture and institutional service capabilities.

Fourth, for Web3 assets to grow from $4T to $10T, two main asset classes are most critical:

1) Stablecoins act as a bridge, channeling capital between traditional finance and digital asset markets. In the process of connecting traditional finance with Web3, stablecoins will be heavily utilized, increasing their issuance scale and liquidity, thereby expanding Web3's overall volume and market cap.

2) RWA: The tokenization of U.S. stocks with significant wealth effects, particularly those in the AI sector, allows ordinary individual investors who previously lacked access to purchase and hold scarce, liquid, and wealth-generating stock targets. Investors can execute their AI strategy through tokenized stocks.

Investors can use the first method—stablecoins—to allocate to both digital assets and traditional financial assets simultaneously, or they can allocate via the second method by holding tokenized stocks. The expansion of the market cap for these two major asset classes will supplement the growth from $4 trillion to $10 trillion. Importantly, although both methods use stablecoins to trade U.S. stocks, their underlying mechanisms differ. The first method uses stablecoins as a bridge to buy and hold real U.S. stocks within the traditional financial system, while simultaneously enjoying nearly all shareholder rights. Current tokenized U.S. stocks (RWA) primarily function to trade the price of the underlying stock. Price exposure can meet trading needs, but holding the actual asset requires a framework involving brokers, custody, rights, and compliance.

Fifth, value creation is the driver of healthy asset appreciation

Disruptive innovation enhances human productivity; creation is necessary for generating good assets. Using stablecoins to trade these assets ensures that price appreciation remains healthy. As we all know, to outpace inflation, one must hold assets, not cash.

Sixth, Long-Term Perspective and Risk

Long-term value and investment judgments are essential. Short-term bubbles and volatility are merely minor bumps on the path of long-term growth. Holding high-quality assets over the long term can outpace inflation. As the saying goes, "You can't drink beer without sipping the froth."

About BIT

BIT (formerly Matrixport), founded in 2019, is a leading global digital asset financial services group. Headquartered in Singapore with offices in seven countries and regions worldwide, BIT connects traditional finance and digital asset markets through robust governance, technological capabilities, and compliant operations.

BIT provides a comprehensive suite of digital asset services to global institutions and professional investors, including trading, custody, asset management, liquidity provision, and financing services, and supports the on-chain introduction and application of Real World Assets (RWA). Its entities hold relevant licenses and are regulated in Singapore, Hong Kong, Switzerland, the United Kingdom, the United States, and Bhutan, including a Major Payment Institution (MPI) license in Singapore and a collective asset management license from FINMA in Switzerland.

Currently, the group manages over $6 billion in assets, with a monthly trading volume exceeding $7 billion. It has paid over $2 billion in cumulative interest to clients. Valued at over $1 billion, BIT was listed on the "2024 Hurun Global Unicorn Index" and the "2025 Singapore Fintech Unicorn List."

Disclaimer:

This content is for informational purposes only and does not constitute investment advice, an investment offer, or a solicitation to purchase any financial product. The information contained herein should not be considered a recommendation for any particular investment strategy or product.