Moon Inc. (HKEX: 1723) has raised about US$8.8 million to launch a Bitcoin prepaid card in Thailand and South Korea, with plans to expand across Asia. The company, a leader in prepaid connectivity and digital asset solutions, confirmed the successful fundraising of HK$65.5 million earlier today.
The round was backed by a consortium of Bitcoin miners and investors through the issuance of new shares and convertible notes, according to a note shared with Bitcoin Magazine.
“The successful completion of this private placement marks another critical milestone in Moon Inc.’s growth, and we are grateful for the confidence our new and existing investors have shown in our long-term vision,” said John Riggins, CEO of Moon Inc.
According to a filing with the Hong Kong Stock Exchange, the proceeds will support Moon Inc.’s pan-Asian expansion, starting with Thailand and South Korea, alongside the launch of its Bitcoin-enabled prepaid cards.
The cards enable users to acquire, store and transfer Bitcoin without the complexity of traditional wallets, fusing Moon Inc.’s prepaid telecommunications expertise with innovative digital asset functionality.
In other words, the cards will allow people to easily buy and send Bitcoin without needing a separate crypto wallet – basically like a prepaid phone card.
Looking ahead, Moon Inc. evaluates Taiwan, Japan and Vietnam for future growth opportunities.
Traditional markets are merging with the Bitcoin economy
Riggins framed the fundraise and the new prepaid card as a step toward bridging traditional capital markets within the Bitcoin economy by leveraging Moon Inc.’s existing wholesale telecommunications distribution network.
“We see this as more than a fundraiser – 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 the gap between traditional capital markets and the Bitcoin economy,” Riggins said.
Back in March, the company became the first listed company in Greater China to adopt a Bitcoin finance strategy, integrating Bitcoin into both its balance sheet and retail business model.
The fundraising follows Moon Inc.’s majority acquisition of Sora Ventures and UTXO Management earlier this year, a move that has accelerated the company’s strategic initiatives and expanded its digital asset offering.
In addition to the prepaid card, Moon Inc. announced also that they were named one of Hong Kong’s 10 most innovative companies by Capital Magazine.
“We are honored to be recognized for driving Bitcoin adoption in Asia, particularly through our prepaid Bitcoin cards,” said Riggins.
Disclaimer: 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 a variety of Bitcoin companies and maintains significant holdings in digital assets.