Bitfire has reported a net loss of up to HK$245 million (approximately US$31.3 million) for the six months ending March 2026, a significant increase from the HK$12.3 million loss in the same period last year. The Hong Kong-based crypto firm attributes this loss primarily to a HK$152 million mark-to-market decline in its crypto assets, alongside increased spending on professional services, customer capabilities, and R&D. Despite the financial setback, Bitfire is intensifying its focus on stablecoins, which CEO Livio Weng describes as a "core pillar" of Hong Kong's Web3 ecosystem. The company plans to integrate compliant Hong Kong stablecoins into its systems, aiming to serve as a conduit for institutional stablecoin access. This strategic shift comes as Hong Kong's Monetary Authority has issued stablecoin issuer licenses only to HSBC and Standard Chartered, creating a demand for compliant integration services. Bitfire's regulatory licenses, including SFC Types 1, 4, and 9, position it advantageously in a compliance-focused market. The firm's investment in infrastructure is seen as a move to capture institutional stablecoin demand, aligning with broader regulatory trends in Hong Kong's virtual asset market.