LearnBitcoin
Active member
- Messages
- 101
- Reaction score
- 71
- Points
- 28
HK Asia Holdings (HKEX: 1723), soon to be renamed Moon Inc., has made history as the first publicly traded company in Greater China to adopt a Bitcoin treasury strategy. In a recent discussion hosted by Allen Helm of Bitcoin For Corporations, new CEO John Riggins outlined the company’s pivot, its regulatory alignment with Hong Kong, and the broader momentum building across Asia.
Riggins, a longtime Bitcoin advocate with extensive experience across China and Southeast Asia, explained that the move was driven by both long-term conviction and a favorable shift in regulatory posture in Hong Kong. He said the company had spent months consulting with regulators, public market investors, and local partners before executing the transition.
Originally focused on SIM cards and prepaid tech products, HK Asia Holdings now aims to integrate Bitcoin both as a balance sheet asset and into its business model. This includes plans to roll out Bitcoin-related offerings through its retail footprint, such as ATMs and prepaid Bitcoin products.
The company’s first steps included the acquisition of 8.88 BTC during a post-acquisition period, followed by another 10 BTC purchase once the leadership transition was finalized—bringing its total holdings to 18.88 BTC, valued at over $1.7 million at the time of announcement. Riggins said further accumulation is planned, though it will proceed in accordance with Hong Kong’s measured but transparent regulatory guidance.
read more: https://bitcoinmagazine.com/news/hk-asia-holdings-becomes-first-in-china-to-adopt-bitcoin-treasury
Riggins, a longtime Bitcoin advocate with extensive experience across China and Southeast Asia, explained that the move was driven by both long-term conviction and a favorable shift in regulatory posture in Hong Kong. He said the company had spent months consulting with regulators, public market investors, and local partners before executing the transition.
Originally focused on SIM cards and prepaid tech products, HK Asia Holdings now aims to integrate Bitcoin both as a balance sheet asset and into its business model. This includes plans to roll out Bitcoin-related offerings through its retail footprint, such as ATMs and prepaid Bitcoin products.
The company’s first steps included the acquisition of 8.88 BTC during a post-acquisition period, followed by another 10 BTC purchase once the leadership transition was finalized—bringing its total holdings to 18.88 BTC, valued at over $1.7 million at the time of announcement. Riggins said further accumulation is planned, though it will proceed in accordance with Hong Kong’s measured but transparent regulatory guidance.
read more: https://bitcoinmagazine.com/news/hk-asia-holdings-becomes-first-in-china-to-adopt-bitcoin-treasury