Moon Inc. (HKEX: 1723) has successfully secured approximately USD 8.8 million to launch a Bitcoin prepaid card in Thailand and South Korea, with aspirations of further expansion across Asia. The company, recognized for its expertise in prepaid connectivity and digital asset solutions, officially announced the successful fundraising of HKD 65.5 million earlier today.

John Riggins, CEO of Moon Inc., expressed, “The successful completion of this private placement represents a significant milestone in Moon Inc.’s growth. We are appreciative of the trust our new and existing investors have placed in our long-term vision.”

According to a filing with the Hong Kong Stock Exchange, the raised funds will facilitate Moon Inc.’s Pan-Asian expansion, commencing with Thailand and South Korea, and the introduction of its Bitcoin-enabled prepaid card.

The prepaid cards will allow users to acquire, store, and transfer Bitcoin without the intricacies associated with traditional wallets, effectively combining Moon Inc.’s telecommunications expertise with innovative digital asset functionality.

In essence, these cards will enable users to buy and send Bitcoin seamlessly, eliminating the need for a separate cryptocurrency wallet — effectively resembling a prepaid phone card.

Furthermore, Moon Inc. is actively exploring growth opportunities in Taiwan, Japan, and Vietnam.

Integration of Traditional Markets with the Bitcoin Economy

Riggins characterized the fundraising effort and the introduction of the new prepaid card as a vital step in connecting traditional capital markets with the Bitcoin economy, utilizing Moon Inc.’s established wholesale telecom distribution networks.

He noted, “We perceive this as more than just a fundraising effort; it reflects a vote of confidence in Hong Kong’s potential as a hub for regulated digital asset innovation and in Moon Inc.’s capability to link traditional capital markets with the Bitcoin ecosystem.”

In March, the company made history by becoming the first publicly traded entity in Greater China to implement a Bitcoin treasury strategy, integrating Bitcoin into both its balance sheet and retail business model.

This latest fundraising effort follows Moon Inc.’s majority acquisition by Sora Ventures and UTXO Management earlier in the year, a strategic move that has expedited the company’s initiatives and widened its digital asset offerings.

In addition to the prepaid card launch, Moon Inc. has also been recognized as one of Hong Kong’s 10 most innovative companies by Capital Magazine.

Riggins concluded, “We are honored to receive recognition for our efforts to drive Bitcoin adoption in Asia, particularly through our prepaid Bitcoin card.”

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