Patrick Ngan

Patrick Ngan is a finance and technology executive whose career has spanned investment banking, capital markets, payments, and digital assets. He is CEO of Alchemy Pay, and has also held leadership roles at A3A Capital, QFPay, and other financial and technology companies across Asia. ^[2]

Education

Ngan graduated from the University of Southampton with an MSc in Accounting and Finance in 1998. He later attended Stanford University’s Graduate School of Business in 2016. ^[3]

Career

Ngan began his career in equity capital markets, holding roles at Lehman Brothers, HSBC, UBS, ABN AMRO, and Huatai Financial Holdings between 1999 and 2015. His work included equity capital markets, public and private financings, syndication, and block origination across Asian markets, including serving as Managing Director and Head of Asia Equity Capital Markets at Huatai Financial Holdings. From 2015 to 2018, Ngan was Group Vice President at Sanpower Group and served as a board director of Hamleys of London and CFO of C.BANNER. He subsequently moved into payments and fintech, co-founding QFPay in 2017 and serving as its CEO and co-founder, later becoming Chairman and co-founder of QFPay Japan. He also served as International CEO of Payment Cards Group in 2024.

Ngan has held several investment and corporate leadership positions alongside his work in payments and digital assets. He was Chairman and co-founder of Nova Vision Acquisition Corp., a Nasdaq-listed SPAC that completed a business combination with Real Messenger in 2024, and served as Chief Investment Officer of Zeta Network Group from October 2025 to February 2026. He is also CEO of A3A Capital, an advisory and investment firm, an independent non-executive director of Plus Group Holdings, and a board member, investor, and advisor to YouLianCloud. Ngan has been associated with Alchemy Pay since its founding period, serving as a former CEO and co-founder and later as an advisor before returning as CEO in March 2026. In his current role, he oversees the company's payment infrastructure business, which connects fiat and digital-asset payment systems. ^[4]

Interviews

Bitcoin Liquidity

In a December 2025 interview with AltCoinDesk, Ngan discussed Zeta Network Group’s strategy of building across the upstream, midstream, and downstream segments of the digital asset ecosystem, including Bitcoin mining, treasury management, and liquidity strategies. He described the company’s $231 million Bitcoin purchase as part of a broader effort to strengthen its balance sheet and position Bitcoin as an increasingly institutional-grade asset rather than a speculative investment. Ngan argued that market corrections were a normal part of asset markets and that companies should focus on strategic allocation rather than attempting to time the market, while comparing Bitcoin’s liquidity characteristics with those of traditional assets such as gold. He outlined Zeta Network’s evolution from holding Bitcoin in its treasury toward generating yield through other digital assets and eventually tokenized real-world assets, while emphasizing regulatory compliance, due diligence, education, and gradual institutional adoption.  ^[5]

Zeta Network

In a December 2025 interview at Bitcoin MENA, Ngan discussed his career in banking, payments, and publicly listed companies, as well as his role as Chief Investment Officer of Zeta Network. He described Zeta Network's focus on Bitcoin mining and its strategy of operating across different parts of the digital asset ecosystem, including its acquisition of approximately $230 million in Bitcoin and plans to expand into staking and liquidity-related products. Ngan explained that the company intended to retain mining profits and reinvest them into additional mining operations and yield-generating digital assets rather than primarily pursuing business-to-business services. He also discussed plans to diversify into tokenized real-world assets, including real estate, as the company's mining activities mature, while emphasizing liquidity and yield as important investment considerations. Ngan acknowledged Bitcoin's volatility and characterized market corrections as part of the development of the asset class, while emphasizing the company's underlying mining operations and focus on Bitcoin and tokenized real-world assets. ^[1]