Digital asset treasury, or DAT, companies are evolving beyond holding cryptocurrencies and promoting specific tokens, speakers said at the EastPoint: Seoul 2026 conference in Seoul. StablecoinX CEO Christopher Jensen said DAT firms can act as distribution platforms for products developed by the ecosystems behind their reserve assets, reaching users through channels that protocols may struggle to access directly. StablecoinX holds about 20% of Ethena's total token supply. Hyperion DeFi CEO Jung Hyun-su said DAT companies should help expand the ecosystems connected to their holdings and use balance-sheet assets in practical ways. He cited Hyperion DeFi's role in supplying capital and infrastructure when new markets or products are created on Hyperliquid, while also helping users enter that ecosystem through credit and trading infrastructure. The panel said valuation should initially consider mNAV (modified net asset value relative to market capitalization), but eventually combine treasury holdings with operating measures such as revenue, customers and ARR (annual recurring revenue).