Moon Inc. (HKEX: 1723), formerly HK Asia Holdings Limited, has raised about US$8.8 million through new shares and convertible notes and will roll out a Bitcoin prepaid card across Asia, positioning a Hong Kong–listed issuer on retail cash rails.
The company secured roughly HK$65.5 million via a private placement, combining the allotment of new shares with convertible notes that expand balance sheet flexibility for distribution and product buildout.
The company describes the program as the first instance of a Hong Kong public company selling Bitcoin through prepaid cards to customers worldwide, aligning its listed status with an on-ramp model that inserts Bitcoin purchases at the point of top-up and retail checkout, rather than at a centralized exchange, per a company announcement on Oct. 22.
The structure pairs equity and debt to finance operational rollout, including channel expansion in Thailand and South Korea and product localization that fits prepaid distribution. The company said it is also evaluating Taiwan, Japan, and Vietnam for subsequent phases, which tracks with its core wholesale model in prepaid telecom products across tourist and migrant corridors.
That model, defined in previous reports as bulk distribution of SIMs and stored-value vouchers across thousands of storefronts, offers immediate reach into cash-first segments where card penetration and bank onboarding remain uneven.
By embedding Bitcoin purchase, storage, and transfer into a familiar top-up workflow, Moon Inc. is attempting to convert existing prepaid flows into incremental BTC acquisition without forcing new wallet setup at the first step, a design that aims to reduce abandonment at KYC and UX choke points.
Funding mechanics set the near-term operating envelope.
According to the HKEX disclosure, the pl
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Author: Liam ‘Akiba’ Wright
