Hong Kong-listed Moon Inc announced that it has raised around 65.5 million Hong Kong Dollars, or about $8.8 million, through a combination of a private placement of new shares and convertible bonds. Bitcoin Magazine claimed that the funds will be used to support a pan-Asian rollout of its Bitcoin prepaid card product. The company is also looking to expand to Thailand and South Korea going forward.
The Bitcoin prepaid card
The card aims to embed Bitcoin purchases into the top-up and prepaid voucher ecosystem. Users in Asia will be able to get a prepaid card or voucher that lets them buy, store, or use Bitcoin, without needing to sign up for a crypto exchange or set up a complicated wallet. The card rollout targets cash-first segments, leveraging the company’s prior network in telecom vouchers and retail top-up distribution. It will also offer potential expansion of utility, like for payments, retail, transfers, going beyond just acquisition.
“We see this as more than a fundraise, it’s a vote of confidence in Hong Kong’s role as a gateway for regulated digital-asset innovation and in Moon Inc.’s ability to bridge traditional capital markets with the Bitcoin economy,” said John Riggins, CEO of Moon Inc.
Moon Inc’s 2025 Bitcoin treasury pivot
Moon Inc., formerly known as HK Asia Holdings Limited, is a Hong Kong-listed company whose core heritage lies in wholesale and retail prepaid telecom products. They used to deal with SIM cards, stored-value vouchers, and data packs for the convenience of travelers, expatriates, migrant workers, and convenience retail.
In March 2025, the company pivoted into a Bitcoin treasury strategy, disclosing a small holding of ~28.88 BTC and reporting FY2025 figures of HK$189.6 million revenue. It also reported HK$43.3 million gross profit and HK$1.8 million net profit, marking a crypto impairment of roughly HK$1.3 million.
With the new funding, Moon Inc. is broadening into programmable money, crypto on-ramp infrastructure and retail prepaid cryptofinance in Asia.