QCP

Recently concluded my final internship experience with QCP, it has been a fulfilling and enjoyable 10 months with the team! Thank you very much to Qing YE Hai Long Tran Arun Karthik Ulaganathan Gabriel Branco Frizzo for your guidance and patience throughout, answering my countless questions and helping me become more familiar with the FinTech space. 😃 Shout-out to Ho Chong Jian for guiding me in user flows and being a punching bag to develop/test features with 😆 I've enjoyed coming to work everyday knowing there's always something new to tackle and people I can collaborate openly with. Hope to see everyone again soon and all the best for your future endeavors, thank you for the past 10 months!

Recently, Elbert Iswara, Head of Coverage at QCP, spoke at the moomoo Private Wealth Summit 2026, where he joined the panel “From Bullion to Blockchain: What Really Protects Wealth in Uncertain Times?” alongside Robin Tsui, CAIA, CA, CPA (State Street), Henryk Abucewicz Tan (Coinhako), and Steven C. (BlackRock). The discussion explored how investors are redefining “safe haven” in today’s uncertain environment, from traditional assets like gold to the growing role of digital assets in portfolio construction and resilience. Thank you to Moomoo SG for hosting and to the fellow panelists for an engaging conversation. We look forward to continuing the dialogue on the future of wealth protection and smart capital allocation. Read about the key takeways from the panel session: https://lnkd.in/ghX9ZwfU

Happening at 12PM today at Bloomberg Singapore, QCP Options Trader John Yeo joins the panel “Crypto Options & Volatility: The Next Frontier”, alongside Lin Chen (Deribit) and Sean McNulty (FalconX). Together, they will unpack what is actually happening in crypto options right now, from how desks are navigating this environment to where opportunities are emerging across volatility and OTC markets, and how TradFi thinking is shaping crypto derivatives today. If you have been watching the market move sideways and wondering where the edge is, this is the conversation to tune into. Watch the session live on Zoom: https://lnkd.in/gCACuTrH

It was a pleasure to join Kaiko’s The Agora on 31 March, where our CEO Melvin Deng spoke alongside industry leaders on “Crypto on Institutional Balance Sheets: What Are the Implications?” The conversation explored how institutions are moving beyond early experimentation and increasingly integrating digital assets into their balance sheets, shaping new approaches to risk management, liquidity, and capital allocation. One clear takeaway is that institutional crypto is no longer a question of if, but how, as infrastructure, regulation, and investment strategies continue to evolve alongside growing demand. Thank you to Thomas Restout (B2C2), Emelie Moritz (Safello), and Frédéric Dalibard (Hexarq) for the engaging discussion, and to William Cai (Kaiko) for moderating. We look forward to continuing the conversation as institutional adoption accelerates. Learn about the key takeaways from the panel here: https://lnkd.in/eTkJM2DZ

Recently, our Head of Compliance, Daniel Yang (杨智龙) LLM, CAMS, joined the #ACAMSSingapore Conference 2026, where he spoke alongside Ali Asghar S. of Citi, Joy Tan of WongPartnership LLP, and Hamida Khan of BNP Paribas on “Sources of Stress: Complying with MAS’ New Wealth Documentation Requirements”. The session highlighted that SoW can no longer be treated as a check-the-box exercise. As technologies like generative AI introduce new vulnerabilities, institutions must rethink traditional approaches and move toward more dynamic, technology-enabled frameworks that extend beyond onboarding into ongoing monitoring. Thank you to ACAMS for hosting and to the fellow panelists for an engaging discussion. We look forward to continuing the dialogue on building more resilient, future-ready compliance frameworks.

QCP Market Colour, 15 April 2026 BTC Rallies on Relief, But Markets Are Not Buying Resolution BTC joined the overnight relief rally, pushing back toward the mid-$74,000 area as markets reacted to reports of a preliminary US-Iran framework. Equities bounced, oil fell, and crypto caught a bid. But the bigger signal was what did not confirm the move: long-end yields barely moved, gold held firm, and rates did not price a more meaningful inflation relief trade. That suggests this is headline relief, not full resolution. The reason is enrichment. Iran is at 60% enriched uranium, while the US wants below 20%. That gap is not closed by a framework headline, and Tehran has not signalled a willingness to make that concession. Markets may be trading the ceasefire angle, but the core risk remains unresolved. In crypto, BTC spot is grinding higher despite negative funding and softer open interest, suggesting shorts are still leaning against the move. But options remain cautious. Front-end vol is still muted, 1-month vol remains below 3-month, and 30-day 25-delta risk reversals still show better demand for downside protection than upside exposure. This still looks like a spot-led relief rally, not a broader re-risking. The broader macro regime has not changed. The Fed remains boxed in, liquidity is still tight, and this is a geopolitical bounce rather than a regime shift. Last week was about fading the blockade. This week is about whether to fade the relief. Read more: https://lnkd.in/g_axqNZH

Excited to share that Elbert Iswara, Head of Coverage at QCP, will be speaking at the Moomoo SG Private Wealth Summit 2026 on 16 April at The EDITION Hotel, Singapore. Elbert will be joining the panel “From Bullion to Blockchain: What Really Protects Wealth in Uncertain Times?” alongside Steven Cheung of BlackRock, Henryk Abucewicz Tan of Coinhako, and Robin Tsui, CAIA, CA, CPA of State Street Investment Management. We’re looking forward to an insightful conversation on how investors are thinking about wealth protection in today’s uncertain environment, and what the evolving role of digital assets means alongside traditional safe-haven allocations.

QCP Market Colour, 13 April 2026 Fade the Blockade? Markets were hoping for a deal, but positioned for disappointment. US–Iran talks broke down over the weekend, pushing oil back above $100 and triggering a risk-off move. BTC ran into resistance at $74k, while ETH slipped from $2,330 to $2,180 as near-term expectations reset. Trump has escalated with blockade threats on Hormuz, while Iran signalled potential disruption via Bab el-Mandeb. The risk is clear, but enforcement is not. Any attempt to intercept major shipping flows, particularly involving China, would risk a broader escalation that markets are not priced for. That scepticism is showing up in crypto. Implied vols and skew have normalised toward pre-conflict levels, and both BTC and ETH continue to absorb geopolitical noise, pointing to a steady underlying bid. ETF flows remain supportive, with IBIT seeing $612.1m in inflows over the past week. With enforcement flagged from 10:00 ET, the focus now shifts from rhetoric to execution. After multiple delays, credibility is becoming part of the trade. Read more: https://lnkd.in/gHR2Fdwx

In Forbes’ latest piece, QCP was quoted on Bitcoin’s move back above $72K following the recent geopolitical de-escalation. While markets reacted quickly to the ceasefire headlines, our view is that this remains a pause rather than a durable resolution. The sustainability of this move will depend less on the headline, and more on how oil, rates, and liquidity evolve from here. In this environment, separating signal from narrative remains key. Read the full article: https://lnkd.in/g8ECNWUQ

QCP Market Colour, 8 April 2026 A Pause Being Mistaken for Peace BTC moved back above $71k after a conditional two-week ceasefire between the US and Iran tied to reopening the Strait of Hormuz. Risk assets reacted as expected, equities rallied and oil pulled back into the low-$90s as immediate supply risks were repriced. However, this still looks like a pause rather than a resolution, with the ceasefire dependent on how passage through Hormuz holds. That caution is warranted. Recent strikes on Saudi energy infrastructure highlight that disruption risks persist, even if shipping resumes. Macro remains mixed. US payrolls rebounded, but underlying labour indicators are softening, leaving the Fed balancing weaker growth against renewed energy-driven inflation. This week’s CPI is the next key test. In options, the move looks more like a headline squeeze than a full risk reset. Front-end vols have compressed, but skew remains bid for downside, suggesting hedging demand is still intact. Positioning shows call interest around $75k to $85k, with support lower at $60k to $65k, leaving $74k as the key level to break. For now, markets are pricing de-escalation, but not conviction. The relief rally is real, but fragile, with geopolitics and macro likely to determine whether it can sustain. Read more: https://lnkd.in/gmZZ283h