SINOHOPE

SINOHOPE is an institutional digital asset custody and wallet infrastructure platform headquartered in Hong Kong and listed on the main board of the Hong Kong Stock Exchange under stock code 1611.HK. The platform targets exchanges, asset managers, fintech companies, and high-net-worth individuals that need regulated, institutional-grade infrastructure for storing and transacting digital assets across multiple blockchains. In March 2026 the company completed a corporate rebrand from Sinohope Technology Holdings Limited to Bitfire Group Holdings Limited, reflecting a strategic repositioning toward a broader global digital finance mandate, though the SINOHOPE product brand remains in use for its custody infrastructure.

Core Products

MPC Wallet is SINOHOPE's self-custody product for institutions that want to retain control of their private keys without relying on a single hardware device or centralized custodian. The implementation uses MPC-CMP (Multi-Party Computation with Concurrent Multi-Party signing), which splits the private key into shards distributed across multiple parties. No single shard is sufficient to sign a transaction on its own. The system also layers MSC-TSS and Trusted Execution Environment (TEE) technology, adds multi-disaster recovery procedures, and exposes a configurable approval workflow with a rule engine so institutions can enforce custom governance policies over withdrawals and transfers.

Full Custody Wallet takes the opposite approach: SINOHOPE holds keys within a three-layer private key storage architecture distributed globally. This option suits clients who prioritize operational simplicity and automated treasury management over self-sovereignty. The full custody model supports automated DeFi participation and yield strategies, off-chain clearing between counterparties, and zero transaction fees for internal transfers.

WaaS (Wallet-as-a-Service) is the developer-facing infrastructure layer. It allows exchanges, payment processors, and application developers to embed institutional-grade MPC wallet capabilities into their own products through a single API integration, without building custody infrastructure from scratch. Under one MPC key setup, the WaaS layer can generate tens of millions of isolated wallet addresses, supports hierarchical wallet abstraction for managing large address trees, and handles batch multi-chain address generation automatically. Authentication for the WaaS API uses ECDSA signatures on the P-256 curve (SHA256withECDSA algorithm). Deployment options include SaaS, private cloud, and self-hosted configurations, with SDKs published for multiple programming languages.

OpenLoop addresses a long-standing pain point in institutional crypto trading: the requirement to pre-fund accounts on exchanges before placing orders. OpenLoop creates a tripartite co-management vault structure involving the exchange, the customer, and SINOHOPE as the custodian. Assets remain in custody until settlement is needed, enabling 1:1 credit-based transaction settlement without on-chain transfers or pre-trade capital lock-up. This reduces counterparty risk and frees up working capital for active traders.

Solana Support

SINOHOPE's platform supports more than 21 blockchain networks including Solana. The documented supported assets on Solana include the native SOL token and USDC on Solana (contract: EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v). Support is available through both the MPC Wallet and WaaS API. The platform's chain identification system uses uppercase symbols (SOLANA for mainnet), and WaaS API users can query the live supported chains list through the /v1/waas/common/get_supported_chains endpoint to confirm the latest additions as coverage expands.

Compliance and Security Posture

SINOHOPE has obtained SOC 2 Type 1 and Type 2 certification and meets FIPS 140-2 Level 3 standards for cryptographic module security -- a bar set by the US National Institute of Standards and Technology that is required for many regulated financial deployments. The platform integrates top-tier AML and Know Your Transaction (KYT) systems and provides 24/7 multilingual developer support. In 2024, SINOHOPE announced a strategic security partnership with SlowMist, a blockchain security firm, covering MPC security auditing, AML integration, Web3 threat intelligence sharing, and broader ecosystem security practices.

Corporate Trajectory and Financial Performance

SINOHOPE traces its roots to the Huobi exchange ecosystem through its parent entity New Huo Technology Holdings. The company hired several former Huobi executives as it built out its institutional custody business and repositioned away from exchange operations.

In 2024, SINOHOPE began a multi-stage acquisition of BitTrade, a fully licensed cryptocurrency trading exchange operating in Japan under Japanese Financial Services Agency oversight. The transaction, valued at approximately HKD 260 million, closed in two phases: the BVI holding company was acquired on April 15, 2025, followed by the BitTrade operating business on May 29, 2025. The acquisition gave SINOHOPE a regulated retail exchange presence in one of Asia's largest cryptocurrency markets, complementing its institutional custody focus.

Fiscal year 2025 revenue reached HKD 8.66 billion, a 451.8% year-on-year increase. Nearly all of that growth came from the OTC cryptocurrency trading desk, which generated HKD 8.61 billion. Despite the revenue expansion the company reported a net loss of HKD 9.7 million, reversing the HKD 56.3 million profit from the prior year, as gross margins compressed to 0.6% from 2.8% and administrative costs rose with headcount expansion and compliance investment. Management has framed the company's differentiation around regulatory compliance and safety for institutional clients rather than yield or volume maximization.

At the time of the March 2026 rebrand, the company's market capitalization stood at approximately HKD 2.08 billion.

Rebranding to Bitfire Group

At an extraordinary general meeting on February 27, 2026, shareholders approved changing the company's English name from Sinohope Technology Holdings Limited to Bitfire Group Holdings Limited and the Chinese name from Xinhuo Keji Konggu Youxian Gongsi to Xinhuo Jituan Konggu Youxian Gongsi. The rebrand took effect at 9:00 a.m. on March 31, 2026, with the stock short name changing from "SINOHOPE TECH" to "BITFIRE GROUP" under the same ticker 1611.HK. The new corporate website launched at bitfire.com simultaneously. Management described the change as reflecting the group's global strategic direction and presenting a refreshed image to support business development beyond its Hong Kong and China origins. Existing share certificates remained valid and shareholder rights were unaffected by the name change.

Target Users

SINOHOPE's primary customers are institutional: cryptocurrency exchanges needing MPC custody for client assets, asset managers and hedge funds requiring regulated storage and DeFi access, fintech companies building wallets or payment infrastructure on top of the WaaS API, and enterprises moving treasury assets on-chain. High-net-worth individuals with significant self-directed digital asset holdings are also a stated customer segment. The platform is not oriented toward retail users and does not offer a consumer-facing wallet application.