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Introduction.com Mandarin Oriental Penthouse Gathering
Powered By: Acquire.fi
Introduction.com Updates (Members):
There are events
Then there are evenings that remind you why you got into this industry in the first place
Two weeks ago in Singapore, we hosted one of those nights
Held at the Mandarin Oriental Penthouse, overlooking the Formula 1 track, our private evening brought together a rare mix of family offices, allocators, and founders shaping the future of Web3.
No panels
No pitches
Just real conversations over cocktails, and the kind of introductions that turn into long-term partnerships
The guest list was tight, the bar was open, and the energy was unmatched.
Our partner for the evening, Acquire.Fi, set the tone perfectly.
Their platform is rewriting how acquisitions, secondaries, and OTC deals happen in Web3.
It was only fitting that a company building the infrastructure for billion-dollar M&A powered a night designed for billion-dollar ideas.
Here’s why they’re one to watch. 👇
Building the deal desk for Web3, where real companies meet on-chain capital
Who they are
Acquire.Fi is a Web3 native M&A and investment platform that helps buyers, founders, and funds find and close deals while layering in tokenized participation for their community.
Think modern deal flow, valuation and due diligence tools, and transaction support, all tuned for crypto and fintech businesses.
What they do
M&A Marketplace: Curated listings for acquiring or selling exchanges, infrastructure providers, gaming studios, SaaS, and more, with buyer networks and advisory built in.
Tokenized Investing: Structures that let communities and qualified investors back real businesses with transparent on chain rails.
Venture and Advisory: Operational support, fundraising prep, and go to market help for growth stage Web3 companies.
Liquidity and Market Support: Connections to market making and capital partners for listings and post deal needs.
Why teams choose them
Acquire.Fi combines a traditional buy side and sell side process with crypto fluent ops.
Listings and mandates run through a secure, KYC aware workflow.
The community layer helps founders turn users into backers, and investors get a pipeline of vetted opportunities instead of spray and pray leads.
Proof points
Live deal flow and mandates across exchanges, infra, gaming, and SaaS, visible on the public marketplace.
Founder and operator leadership with deep tokenization and fractionalization experience, led by CEO Jan Strandberg.
Growing ecosystem of investors, buyers, and partners that tap Acquire.Fi for both traditional acquisitions and token enabled raises.
Community and token
The ACQ token is positioned for utilities within the ecosystem, including access and perks tied to deal participation and platform features, aligning users with platform growth.
In their own words
Acquire.Fi describes its mission as merging real world business acquisitions with the transparency and reach of Web3, so founders can exit well, buyers can deploy confidently, and communities can participate in value creation.
Join the Acquire.fi Deal Flow Channel and check them out on X and Telegram
👶 New Member Announcements:
The Introduction.com team is super excited to announce the newest additions to our community this week!
(We’d love to see you up here one day🤠)
Apply Today
Introducing Elden Mirzoian (@eldenmirz), who leads growth at Polymarket (@Polymarket), helping scale one of the leading platforms in prediction markets. Previously leading creators and talent at beehiiv, he brings experience driving go-to-market strategy, building communities, and translating technical concepts into compelling, data-driven marketing strategies. We’re excited to welcome him!
Welcoming Caitlin Szikszai (@caitlin6i) from Republic (@joinrepublic; @RepublicCrypto), where she leads the development and execution of GTM strategies for innovative products across the platform’s full-stack infrastructure. She’s worked closely with founders, protocols, and investors to bring real-world assets on-chain and structure token economies. Her background at the intersection of fintech and Web3 brings valuable perspective to the network, and we’re thrilled to have her join!
Table of Contents
What We’re Looking at 👀
🌟 Markets are moving, builders are building, and headlines are finally starting to rhyme again.
From Andre Cronje’s $200M comeback to CipherOwl’s compliance crusade, from BVNK’s stablecoin land grab to Meanwhile’s Bitcoin life insurance, this week reminded us that Web3’s next wave is not about speculation. It is about infrastructure.
Regulators are writing playbooks, institutions are buying in, and traditional brands are quietly moving on-chain.
Let’s dive in 🌟
Money Moves(Funding/M&A): 🤑
From Introduction.com Members 💳️
Flying Tulip 🌷
DeFi architect Andre Cronje is back. Flying Tulip blooms with a $200M private raise at a $1B token valuation, with a public sale planned at the same valuation.
Who is Andre Cronje 🧠
The creator of Yearn Finance and a defining builder of early DeFi, Cronje’s return attracts both crypto native and institutional capital.
Track record of trust: Yearn and Fantom showed he can ship, scale, and sustain usage; not just hype.
Investor magnetism: A broad roster of funds leaned in, giving Tulip credibility before launch.
What is Flying Tulip ⚙️
A full stack on-chain financial marketplace, unifying spot, derivatives, credit, a native stablecoin, and insurance within a cross margin system.
Think exchange, money markets, and risk tools in one place, built for volatile markets.
Market design: Hybrid AMM plus central order book to balance slippage, depth, and capital efficiency during volatility.
Token mechanics: FT will launch with a built in on-chain redemption right, a perpetual put that lets primary buyers burn tokens to redeem up to original principal from a segregated reserve.
Team alignment: No initial team allocation; team exposure accrues only via open market buybacks funded by protocol revenue, on a disclosed schedule.
The competition, the niche 🌍
Big exchanges are still balancing legacy rules with on-chain ambition. Tulip aims to be natively on-chain from day one.
Coinbase: Expands Base and custody; product set is highly regulated and custodial; innovation cadence shaped by U.S. rules.
Binance: Retrenched into perps and spot after tokenized stock efforts were curtailed in 2021; less emphasis on compliant on-chain credit and insurance.
Kraken: Compliance forward, banking footprint growing; limited emphasis on integrated, on-chain cross margin systems.
Tulip’s niche: built as a unified on-chain venue with programmatic investor protections and a volatility aware market design, positioned to move quickly where rules permit.
The raise 💸
Amount: $200M private round
Valuation: $1B FDV for FT
Structure: SAFTs for tokens; public sale planned at the same valuation
Participants: A wide mix of funds including Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, and others
Use of proceeds: Liquidity, infrastructure, and go to market for the on-chain exchange
Looking ahead 🔮
Tulip sits at an interesting moment: renewed institutional interest, improving clarity in several regions, and growing demand for natively on-chain market structure.
If the team can ship the redemption mechanism cleanly, seed deep liquidity, and prove the hybrid market model under stress, Tulip can graduate from headline raise to durable venue.
Cipher Owl 🦉
The Fourth Rail of Tokenization
Trading, custody, and settlement get the headlines.
Compliance is what unlocks scale.
CipherOwl is pitching itself as the missing rail.
Who Is CipherOwl? 🤔
Founded in 2024 by Leo Liang and Ming Jiang, both former Coinbase data and compliance leaders.
Liang previously led on chain compliance at Coinbase, with earlier roles at Cruise, Twitter, AWS, and Microsoft.
Jiang is an ex Coinbase product and data lead with deep analytics and regulatory experience.
Mission: make institutional crypto compliance fast, automated, and regulator ready.
Positioning: not a data provider, an intelligence layer that plugs into platforms like Chainalysis and TRM Labs to generate transaction reports, exposure summaries, and audit trails in real time.
How It Works ⚙️
CipherOwl connects to existing blockchain data feeds and applies explainable AI to identify risk, narrate flows, and produce reports.
Example:
A regulated exchange monitors deposits with Chainalysis.
CipherOwl reads the same feed, analyzes counterparties, assigns risk scores, and outputs a regulator ready summary in seconds.
Result: faster audits, fewer false positives, and real time compliance without extra headcount.
The Round 💸
CipherOwl raised $15 million in seed funding, co led by General Catalyst and Flourish Ventures.
Additional investors include Coinbase Ventures, OKX Ventures, AME Cloud Ventures, Sancus Ventures, Enlight Capital, and Predictive VC.
What We Know ✅
Funds will scale institutional integrations, expand the AI engine, and extend coverage to tokenized securities.
Pilots are active with major trading venues and custodians.
What We Do Not Know ❓
Valuation and revenue are not disclosed.
Depth of integrations with Chainalysis and TRM Labs has not been detailed publicly.
Why It Matters 🔍
If institutions cannot prove compliance in real time, they cannot move serious money.
CipherOwl aims to solve this by turning compliance into a programmable process that enhances, rather than replaces, existing analytics stacks.
Looking Ahead 🔮
CipherOwl now faces the real test: scaling from pilot partner to regulatory mainstay.
If banks and watchdogs adopt its AI compliance layer, it could quietly become the backbone of institutional crypto.
Industry Leaders 🤠
BVNK 🚂
The Railroads Are For Sale
Visa and Citi are already on board, and Coinbase or Mastercard may be next in line. BVNK has become the prize asset in the stablecoin infrastructure land grab.
What’s Happening 🚀
BVNK, the London-based fintech powering stablecoin payments for businesses, just added Citi Ventures to its investor roster following Visa Ventures earlier this year.
The company now processes more than $20B in annualized volume, operates across all 50 U.S. states, and serves clients including Deel, dLocal, and LianLian Global.
Valuation is reported above $750M, with several outlets suggesting Coinbase and Mastercard have explored potential acquisition offers in the $1.5B to $2.5B range.
Who Is BVNK 🤔
Founded in 2021 by Jesse Hemson-Struthers, Chris Harmse, and Donald Jackson, BVNK built an API layer that makes stablecoin payments as simple as traditional wires.
It allows businesses to collect, convert, and settle payments in stablecoins or fiat while embedding compliance and KYC tools directly into the process.
Think of it as the invisible plumbing that connects Web3 money to global finance in a regulated and efficient way.
Why It Matters 🌍
Stablecoin infrastructure is quickly becoming the new financial rail everyone wants to own.
Stripe acquired Bridge for $1.1B in 2024 to strengthen its crypto integration. Visa and Citi’s backing of BVNK signals that the next major competition is not about exchanges or tokens, but about who controls the pipes.
If Coinbase or Mastercard joins in, BVNK could become the central track for stablecoin settlement across fintech, banking, and crypto ecosystems.
Looking Ahead 🔮
BVNK’s strategy is straightforward: stay neutral, stay compliant, and scale quickly.
If the company continues to grow while maintaining regulatory confidence, it could soon become the Swift of stablecoins, powering the movement of digital money for the next generation of global payment systems.
DDC Enterprise 🍱💰
From digital cuisine to digital currency, the Asian food giant is now serving up a Bitcoin treasury
Hong Kong-based DDC Enterprise, the company behind food and lifestyle brand DayDayCook, has officially joined the Bitcoin club.
The publicly listed group announced plans to allocate part of its cash reserves to BTC, calling it a long-term store of value and a hedge against inflation.
What’s Happening 🚀
DDC Enterprise raised $124M in new equity financing at $10.00 per Class A share, roughly a 16 percent premium to the October 7 close.
Founder and CEO Norma Chu personally invested $3 million, with all investors agreeing to a 180-day lockup.
Proceeds are being used to advance DDC’s Bitcoin treasury strategy, where the company currently reports 1,058 BTC and a target of 10,000 BTC by the end of 2025.
Who Is DDC 🤔
Founded in 2012 by Norma Chu, DDC began as a digital food-media platform before expanding into packaged meals and e-commerce.
Today it operates across China, Hong Kong, and Southeast Asia, blending cooking content with consumer products and retail distribution.
The company trades on the NYSE under ticker DDC.
Timeline ⏳
2012: Launches as an online cooking platform
2017: Expands into meal kits and branded consumer goods across Asia
2023: Lists on NYSE, completing its transition into a global lifestyle company
2025: Announces its Bitcoin treasury plan and begins accumulating BTC
Literally Why 🤨
DDC leadership says holding only fiat is no longer sustainable.
With roughly 25 to 28 million USD in cash reserves, the company is turning to Bitcoin as a way to preserve value through digital scarcity and long-term growth.
The move mirrors strategies once reserved for tech firms, showing that even food brands now view Bitcoin as a legitimate treasury asset.
Why It Matters 🔮
This is Bitcoin adoption entering the mainstream economy.
A consumer-facing company embracing BTC turns the “store of value” narrative into something tangible and relatable.
If DDC’s bet succeeds, it could inspire other traditional businesses to follow suit, proving that digital gold belongs not just to traders but to treasuries of all kinds.
Meanwhile 🏝️
Meanwhile in Bermuda
BTC-denominated life insurance extends its first mover advantage with a fresh $82M raise.
Who Is Meanwhile 🤔
Founded in 2022 by Zac Townsend and Randy Brandoff, Meanwhile is regulated by the Bermuda Monetary Authority and operates under a full life insurance license.
Townsend previously co-founded Standard Treasury, later acquired by Silicon Valley Bank, while Brandoff led AIG’s Private Client Group before moving into fintech and alternative insurance.
Together they built the first insurance company that runs entirely on Bitcoin, using BTC as both the funding base and payout currency.
Policyholders can:
Earn yield as reserves are managed through Bitcoin holdings, derivatives, and conservative on-chain lending.
Borrow against their policy without triggering a taxable event, using accumulated BTC value as collateral.
Compound long-term growth through strategies designed to maintain liquidity and hedge volatility while keeping assets in Bitcoin.
Meanwhile’s design merges the security of traditional insurance with the autonomy and compounding power of crypto-native finance.
How It Works ⚙️
Policyholders pay premiums in Bitcoin, and Meanwhile manages those reserves through a combination of BTC holdings, derivatives, and long-term yield strategies designed to preserve and grow the pool.
If a policyholder passes away, beneficiaries receive the same amount of Bitcoin stated in the policy, regardless of market price at the time of payout.
For example, a policy bought today for 1 BTC locks in that exact benefit. Whether Bitcoin is worth $60,000 or $120,000 years later, the beneficiary still receives 1 BTC, not the dollar equivalent.
The model caters to long-term Bitcoin holders who see BTC as a multi-generational store of value, aligning their wealth preservation strategy with their belief in Bitcoin’s future.
The Raise 💸
Meanwhile secured $82 million in new funding to scale its Bitcoin-denominated life insurance platform.
Leads: Bain Capital Crypto and Haun Ventures
Participants: Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Stillmark
Use of Funds: Global scaling, compliance expansion, and new product development.
This follows a $40 million round earlier in 2025, co-led by Framework Ventures and Fulgur Ventures, and a $19 million seed round in 2022 backed by Sam Altman, Lachy Groom, Gradient Ventures, and OpenAI CEO support.
Together, the company has raised over $140 million to date, reinforcing its position as the first mover in Bitcoin-denominated insurance.
Market and Competitive Edge 🌍
Meanwhile sits alone at the intersection of Bitcoin and insurance.
Closest analogs like NYDIG and Relm Insurance manage Bitcoin assets or underwrite crypto risk, but none issue life insurance policies denominated in BTC.
Traditional giants such as MetLife, Prudential, and Swiss Re remain strictly fiat-based, with no direct exposure to on-chain insurance products.
Bermuda provides a clear advantage. Its regulatory framework allows crypto-native insurance structures that would face significant hurdles under U.S. or EU law.
For international customers, this setup can offer tax-deferred growth on Bitcoin reserves since Bermuda imposes no capital gains or corporate tax on investment returns.
U.S. and EU policyholders still face domestic reporting requirements, but the underlying structure provides greater efficiency and flexibility than traditional insurance domiciled in high-tax jurisdictions.
Why It Matters 🔮
Meanwhile is proving that Bitcoin can serve as more than an investment. It can form the backbone of a new class of financial infrastructure.
If trading moves money, custody stores it, and settlement confirms it, Meanwhile protects it.
As the company scales, the key question will be whether other insurers follow suit, or if Bermuda’s first mover keeps the crown.
Events 📆
IRL:
Tobacco Dock, London UK; 10/21 - 10/22 🇬🇧
Las Vegas, Nevada; 10/26 - 10/29 🇺🇸
Top Stories 📰
MetaMask Lets Users Bet Through Polymarket 🎯
MetaMask now supports direct access to prediction markets via Polymarket, letting users wager on events within the same wallet.
What’s Happening:
Users can enter Polymarket wagers without leaving their MetaMask extension or mobile app.
All settlement, collateral, and payouts are managed on-chain under Polymarket’s infrastructure.
The move creates a smoother path for casual users to explore decentralized speculation inside a familiar wallet environment.
Why It Matters:
This is the kind of seamless integration that lowers barriers for participation in prediction markets.
If more wallets embed betting rails like this, markets like Polymarket may gain broader liquidity and reach; blurring the lines between DeFi tools and “fun” apps.
🏪 Square Brings Bitcoin to the Checkout
Square is giving merchants a direct line to Bitcoin. The payments giant is now letting its 4M+ U.S. merchants accept BTC at checkout, hold it in an integrated wallet, and enjoy zero fees through 2026.
What’s Happening:
Merchants can accept Bitcoin at point of sale and either hold or auto-convert to USD through Square’s dashboard.
All transactions are processed through Square’s built-in wallet with no blockchain setup required.
Block (Square’s parent) already holds 8,692 BTC, deepening its role in everyday Bitcoin commerce.
Why It Matters:
This is Bitcoin’s most tangible leap into real-world spending yet.
Square’s merchant rails now double as Bitcoin rails, signaling that the next wave of crypto adoption will happen quietly at checkout, not loudly on exchanges.
Morgan Stanley Opens Its Crypto Doors Wide
Morgan Stanley is letting all clients access its crypto funds starting October 15, a major shift from the old high-net-worth restriction.
What’s Happening
Financial advisers will now be allowed to offer crypto funds, including within IRAs and 401(k)s, not just to select wealthy clientele. 
At launch, the options will be limited to Bitcoin funds from BlackRock and Fidelity. Morgan Stanley is using automated exposure caps to manage risk. 
Morgan Stanley in This Game
Morgan Stanley’s wealth management division handles about $6.2 trillion in assets and serves millions of client relationships.
Its Global Investment Committee already sets internal guidelines for crypto exposure (e.g. 4 % max in aggressive portfolios, 2 % in balanced ones).
Why This Shift Matters
This is a turning point: from “crypto for the rich” to “crypto for all investors.”
By opening up retirement accounts to crypto, Morgan Stanley could redirect massive capital flows toward digital assets.
It also forces other Wall Street players to rethink their crypto strategies.
🚦 The mainstreaming signal is loud and clear 🚦
🧭 Regulation Roundup
Regulators around the world are tightening the screws, but this time the tone feels different.
Instead of blanket bans or stalled reforms, we’re seeing coordinated steps toward real frameworks; a sign that the rails of global crypto regulation are finally being laid.
🇺🇸 Senate Democrats’ DeFi Draft Leaks
A leaked position paper from Senate Democrats proposes classifying many DeFi protocols and front-end operators as financial brokers.
Industry leaders warn it would “strangle innovation” by forcing developers to register under SEC and CFTC regimes designed for centralized intermediaries.
🇬🇧 UK Lifts Crypto ETN Ban
The Financial Conduct Authority has reversed its 2021 prohibition on crypto exchange-traded notes.
The move allows institutions to offer Bitcoin and Ethereum ETNs again, and investors will be able to hold them tax-free within pensions and ISAs.
🇦🇺 Gemini Expands with AUSTRAC Registration
Gemini has secured full registration with AUSTRAC, Australia’s financial intelligence unit.
The exchange now has regulatory clearance to provide exchange and custody services nationwide, reinforcing its focus on compliant global expansion.
🇺🇸 250K Letters Push Stablecoin Yield Protection
U.S. Senators have received over 250,000 letters urging Congress to safeguard access to regulated stablecoin yield products.
The flood of public feedback highlights growing retail support for yield-bearing stablecoins under clear federal rules.
🇬🇧 Bank of England Eyes Stablecoin Exemptions
The Bank of England is considering exemptions to proposed holding limits for businesses using stablecoins.
Officials say the goal is to foster payments innovation without introducing systemic risk to the broader financial system.
🇺🇸 SEC Targets “Innovation Exemption” by Year-End
SEC Chair Paul Atkins reaffirmed plans to implement a new rule giving crypto startups a pathway to test products under lighter regulatory supervision.
The proposal would also clarify standards for token issuance, custody, and recordkeeping across digital assets.
🇲🇾 Malaysia Licenses First Islamic Stablecoin Bank
Fasset has received Malaysia’s first digital banking license for a stablecoin-based Islamic finance institution.
The project merges Shariah-compliant principles with tokenized payments, marking a first for Southeast Asian fintech.
The takeaway:
Crypto regulation is no longer a guessing game. From London’s ETNs to Kuala Lumpur’s Islamic stablecoin bank, policymakers are setting boundaries that let the industry scale responsibly. The era of pilot programs and loopholes is ending — the rulebooks are finally being written.
Wrap Up ✌
✨ If this week proved anything, it is that crypto’s growing up fast. The experiments are turning into enterprises, the pilots into policy, and the rails are finally being laid for scale.
Whether it is life insurance in Bitcoin, compliance powered by AI, or food companies stacking sats, one thing is clear: the future of finance will not look new. It will just work better.
See you next week, same time, same chain.✨
