Moon Inc. (HKEX: 1723), a leading provider of prepaid connectivity and digital asset solutions, has successfully raised approximately US$8.8 million, equivalent to HK$65.5 million, through a private placement. This significant fundraising round, supported by a consortium of Bitcoin miners and investors, was facilitated by issuing new shares and convertible notes. The primary goal of these funds is to support Moon Inc.’s ambitious Pan-Asian expansion strategy, starting with the launch of a revolutionary Bitcoin-enabled prepaid card in key markets such as Thailand and South Korea.

The innovative Bitcoin prepaid card is designed to democratize access to digital assets by simplifying the acquisition, storage, and transfer of Bitcoin. Users can engage with Bitcoin seamlessly, bypassing the complexities often associated with traditional cryptocurrency wallets. This integration leverages Moon Inc.’s established expertise in prepaid telecom services, combining it with cutting-edge digital asset capabilities, similar to the convenience of a prepaid phone card. Following its initial rollout in Thailand and South Korea, Moon Inc. is actively exploring further growth opportunities in other Asian markets, including Taiwan, Japan, and Vietnam.

John Riggins, CEO of Moon Inc., emphasized the broader strategic implications of the fundraising, describing it as a pivotal step toward bridging traditional capital markets with the growing Bitcoin economy. He highlighted that this initiative represents more than a financial endeavor; it signifies strong confidence in Hong Kong’s evolving role as a key gateway for regulated digital-asset innovation. Riggins also underscored Moon Inc.’s unique ability to utilize its extensive wholesale telecom distribution networks to facilitate this integration, positioning the company at the forefront of this financial convergence.

This development builds on Moon Inc.’s strategic advancements earlier this year. In March, the company made headlines by becoming the first publicly traded entity in Greater China to adopt a comprehensive Bitcoin treasury strategy, incorporating Bitcoin into both its corporate balance sheet and retail business model. The current fundraising follows a significant majority acquisition of Moon Inc. by Sora Ventures and UTXO Management earlier this year, a move that has accelerated the company’s strategic initiatives and expanded its comprehensive suite of digital asset offerings.

In addition to its financial and strategic milestones, Moon Inc. has earned prestigious recognition, having been named one of Hong Kong’s 10 most innovative companies by Capital Magazine. Riggins expressed pride in this accolade, acknowledging the company’s contributions to driving Bitcoin adoption across Asia, particularly through its pioneering prepaid Bitcoin card. Moon Inc. is a portfolio company of UTXO Management, a regulated capital allocator focused on the digital assets industry. Bitcoin Magazine is owned by BTC Inc., which operates UTXO Management. UTXO invests in various Bitcoin businesses and maintains significant holdings in digital assets.