Moon Inc. Secures $8.8 Million to Launch Bitcoin Prepaid Card in Asia
Moon Inc. (HKEX: 1723), a leading provider of prepaid connectivity and digital asset solutions, has successfully raised approximately US$8.8 million (HK$65.5 million) to facilitate the launch of a Bitcoin-enabled prepaid card, initially in Thailand and South Korea, wiht plans for broader expansion across Asia.
The funding round was completed through the issuance of new shares and convertible notes, backed by a consortium of Bitcoin miners and investors. According to CEO John Riggins, the investment signifies strong confidence in Moon Inc.’s long-term vision.
Proceeds from the fundraising will directly support the rollout of the prepaid card and the company’s Pan-Asian expansion strategy. The card is designed to simplify Bitcoin acquisition, storage, and transfer for users, eliminating the need for customary cryptocurrency wallets – functioning similarly to a prepaid phone card. Future expansion is being considered in Taiwan, Japan, and vietnam.
Riggins emphasized the fundraise as a key step in integrating traditional finance with the Bitcoin economy,leveraging Moon Inc.’s established wholesale telecom distribution networks. He highlighted Hong Kong’s growing role as a hub for regulated digital asset innovation.
This move builds on Moon Inc.’s earlier adoption of a Bitcoin treasury strategy in March, making it the first publicly traded company in Greater China to integrate Bitcoin into its balance sheet and business model.
The company’s strategic direction was further bolstered earlier this year with a majority acquisition by Sora Ventures and UTXO Management. Moon Inc.was also recently recognized as one of Hong Kong’s 10 most innovative companies by Capital Magazine for its work in driving Bitcoin adoption.
disclosure: Moon Inc. is a portfolio company of UTXO Management, a regulated capital allocator in the digital asset space. Bitcoin Magazine is owned by BTC Inc., the parent company of UTXO Management, which invests in various Bitcoin businesses and holds significant digital asset positions.
