Newfire Technology announces the launch of its international business brand, Bitfire.

At the "Hong Kong Fintech Summit and Newfire Technology Product Launch" held on November 5th, Weng Xiaoqi, Executive Director and CEO of Newfire Technology, officially announced the launch of its new international business brand – Bitfire, and unveiled its global strategic layout.

Bitfire will be based in Hong Kong, launching its flagship private-bank-grade digital asset management product – Bitfire Prime v1.0 APP, dedicated to providing comprehensive, personalized concierge services for high-net-worth individuals and institutional clients in Hong Kong.

Simultaneously, Bitfire will actively build a globally-covering licensed trading system, modeled after the compliant Japanese exchange BitTrade, and launch a multi-dimensional exchange brand matrix including Bitfire Exchanges, Bitfire Prime, Bitfire Hub, and DAT Plus.

Weng Xiaoqi also revealed for the first time the significant achievements Newfire Technology has made since launching its "Private-Bank-Grade Digital Asset Management" strategic transformation on August 27th: the scale of high-net-worth clients has expanded rapidly, the number of institutional accounts has increased eightfold, with over 130 new accounts opened, of which over 50 are institutional clients.

After the business is fully launched, the total assets under management are expected to jump from the current $40 million to $500 million within three months of the official launch, representing a projected increase of 12 times.