At Consensus Hong Kong 2026, the narrative focus of institutional investors is undergoing a structural shift. As regulatory frameworks mature, crypto assets have moved from exploratory allocation to accelerated integration into institutional portfolios; however, this transition to multi-asset allocation also highlights a new theme: while portfolios are expanding across asset classes, cross-system frictions are diluting capital efficiency.

Avenir Group, an investment group dedicated to promoting the integration of traditional finance and digital assets, has observed that as institutional participation expands, the completeness of infrastructure is increasingly impacting institutional capital efficiency. As an official partner of Consensus Hong Kong 2026, Avenir Group initiated a roundtable discussion entitled "Next-Generation Institutional Trading Infrastructure." Industry leaders from leading global technology brokerage Tiger International, Swiss FINMA-regulated crypto bank AMINA Bank AG ("AMINA Bank"), and leading multi-asset institutional trading platform CoinRoutes systematically analyzed the reasons for the limitations of institutional capital efficiency in a multi-asset environment and jointly explored possible directions for evolution.

Industry consensus: A fundamental restructuring from " asset-oriented " to " capital-oriented "

During the discussion, all parties reached a core consensus: the industry must shift from an " asset -centric " infrastructure framework to a " capital - centric " framework.

In the past, asset-centric models that optimized for a single asset class could meet the needs; however, in the era of complex multi-asset markets, this model may suffer from a certain degree of capital inefficiency. When institutions manage traditional and digital assets in parallel, the inherent differences between different assets, from price volatility to clearing and settlement cycles, can lead to hidden capital occupation and execution frictions. These are no longer merely operational inconveniences, but may become significant structural constraints affecting overall capital efficiency.

The roundtable participants shared in-depth insights from different stages of the value chain:

• Capital efficiency and overall utilization: Felix Huang Shuojun, Global Partner at Tiger International Group, pointed out that traditional markets have improved capital utilization through margin trading; however, the addition of digital assets has forced this collaboration to a halt. Existing systems are mostly designed around "asset segregation" rather than "overall capital efficiency," making it difficult for institutions to achieve cross-asset capital allocation within a unified framework.
• Efficient execution and liquidity linkage: CoinRoutes CEO and co-founder Ian Weisberger added that the misalignment of liquidation schedules leaves a large amount of capital idle during trading lulls. Institutions urgently need the ability to execute cross-market, multi-leg strategies in a unified manner, as well as the flexibility to rotate positions and risks across different asset classes.
• Compliance-first infrastructure: AMINA Bank Chief Product Officer Myles Harrison emphasized that compliance is not the opposite of efficiency, but rather a prerequisite for the secure operation of the system. The pain point lies in the industry's lack of a native infrastructure that supports multiple assets and possesses both high transparency and scalability, thereby unlocking capital potential within a global compliance framework.

Jacob Zhong, Managing Partner of Strategic Investments and Partnerships at Avenir Group, stated, “Based on industry insights, the evolution of infrastructure is becoming relatively clear. As institutions deepen their participation in multi-asset environments, the market increasingly needs infrastructure that can achieve unified cross-asset fund allocation, synchronize transaction execution and settlement, and embed compliance capabilities into the native system (rather than as an afterthought). In this direction, more integrated infrastructure with regulatory compatibility is gradually becoming an important support for improving capital efficiency and supporting large-scale cross-asset operations.”

Building an ecosystem together: Advancing the evolution of financial infrastructure through collaborative action

At the conclusion of the panel discussion, Avenir Group officially signed a Memorandum of Understanding (MOU) with Tiger Brokers, AMINA Bank, and CoinRoutes to explore potential future collaborations.

The integration of traditional finance and digital assets is not merely a matter of technology or product integration, but rather a gradual and systemic compliance project. As multi-asset allocation becomes the norm, the focus of competition among institutions is shifting—no longer solely dependent on market access capabilities, but rather on the systemic ability to manage and flexibly allocate capital within a compliant framework.

Avenir Group looks forward to collaborating with a wider range of financial institutions and technology partners. By fostering dialogue and collaboration across the ecosystem, Avenir Group aims to work with industry partners to drive more collaborative and scalable infrastructure pathways, gradually moving capital efficiency improvements from industry consensus to verifiable practices.

About Avenir Group

Avenir Group is a rising investment group focused on driving the integration of traditional finance and digital assets, building future-oriented financial infrastructure. The Group employs an integrated "investment-incubation-operation" strategy, with its core investment portfolio focusing on digital asset management, trading and financial services platforms, PayFi infrastructure, and Real Asset Digitalization (RWA). It provides the industry with institutional-grade products and services, continuously driving financial innovation and the development of emerging technologies. As Asia's largest institutional holder of Bitcoin ETFs, Avenir Group expands its business globally, covering Hong Kong, Singapore, Tokyo, London, San Francisco, and other locations. Leveraging its robust capital base and professional operational capabilities, the Group is committed to becoming a strategic hub connecting Eastern and Western capital, driving efficient global capital flow and collaboration. Learn more: https://avenirx.com