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 HK$65.5 million fundraising earlier today.
The round was supported 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 card.
The cards enable users to acquire, store, and transfer Bitcoin without the complexity of traditional wallets, merging Moon Inc.’s prepaid telecom expertise with innovative digital asset functionality.
In other words, the cards will let people buy and send Bitcoin easily, without needing a separate crypto wallet — basically like a pre-paid phone card.
Looking ahead, Moon Inc. is evaluating Taiwan, Japan, and Vietnam for future growth opportunities.
Traditional markets are merging with the Bitcoin economy
Riggins framed the fundraise and new prepaid card as a step toward bridging traditional capital markets within the Bitcoin economy, leveraging Moon Inc.’s existing wholesale telecom distribution networks.
“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,” Riggins said.
Back in March, the company became the first publicly traded company in Greater China to adopt a Bitcoin treasury strategy, integrating Bitcoin into both its balance sheet and retail business model.
The fundraising follows Moon Inc.’s majority acquisition by Sora Ventures and UTXO Management earlier this year, a move that has accelerated the company’s strategic initiatives and broadened its digital asset offerings.
In addition to the pre-paid card, Moon Inc. also announced they were named one of Hong Kong’s 10 most innovative companies by Capital Magazine.
“We’re honored to be recognized for driving Bitcoin adoption in Asia, particularly through our prepaid Bitcoin card,” Riggins said.
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 businesses, and maintains significant holdings in digital assets.
Source: https://bitcoinmagazine.com/business/bitcoin-on-a-prepaid-card-moon-inc-raises-8-8m-to-make-it-happen-in-asia
