HK Asia Holdings (HKEX: 1723), soon to be rebranded as Moon Inc., has made headlines as the pioneering publicly listed firm in Greater China to implement a Bitcoin treasury strategy. In a recent conversation led by Allen Helm of Bitcoin For Corporations, new CEO John Riggins elaborated on the company’s shift, its compliance with Hong Kong regulations, and the growing momentum throughout Asia.
Riggins, a long-time proponent of Bitcoin with deep expertise in China and Southeast Asia, clarified that the decision was influenced by both a long-term belief and a favorable change in regulatory stance in Hong Kong. He mentioned that the company had engaged with regulators, institutional investors, and local collaborators for months prior to making the shift.
Initially concentrating on SIM cards and prepaid technological products, HK Asia Holdings now intends to incorporate Bitcoin into both its balance sheet and business approach. This includes ambitions to launch Bitcoin-related services through its retail presence, such as ATMs and prepaid Bitcoin offerings.
The company’s initial steps comprised the acquisition of 8.88 BTC during a post-acquisition phase, followed by an additional purchase of 10 BTC once the leadership transition was completed—totaling 18.88 BTC, valued at over $1.7 million at the time of the announcement. Riggins stated that further acquisitions are being planned, though they will be conducted in line with Hong Kong’s measured yet transparent regulatory framework.
“We perceive it as a means to safeguard our balance sheet, and we consider it as a method to diversify, our treasury while paying attention to the global shifts,” Riggins stated.
The strategic purpose extends well beyond mere speculation. Riggins positioned Bitcoin as a safeguard against macroeconomic uncertainty, a device for long-term stability, and a conduit to emerging global financial systems. He underscored how corporate boards in the area are beginning to engage with this concept more earnestly, referring to MetaPlanet in Japan and Strategy in the U.S. as notable examples.
While corporate Bitcoin adoption in Asia remains in its initial phases, interest is accelerating rapidly. Riggins pointed out South Korea, Thailand, Malaysia, and Indonesia as territories with evident potential to follow this path. Much of the activity, he noted, is transpiring quietly behind the scenes—particularly in China, where institutional participants and state-linked investors are keenly observing U.S. policy changes and corporate adoption patterns.
“I’m increasingly receiving messages from individuals in government, institutional investors who are closely monitoring this space looking for inside information regarding developments here,” Riggins expressed.
Though no formal public actions have been declared by Chinese state entities, Riggins suspects Bitcoin is already held indirectly via government-connected organizations, including state-linked investment divisions. He indicated that these holdings might be more substantial than publicly acknowledged. With the U.S. progressing towards a strategic Bitcoin reserve, he observes China closely following—and possibly emulating—if global policy trends continue to evolve.
Looking forward, Moon Inc. aims to increase its Bitcoin holdings within Hong Kong’s regulatory environment and serve as an example for other Asian firms seeking similar strategies. The company is set to co-host Bitcoin Asia this August in Hong Kong, positioning itself as a regional pioneer and assisting in stimulating broader corporate adoption throughout Asia.
Disclaimer: This content was drafted on behalf of Bitcoin For Corporations. This article is intended exclusively for informational purposes and should not be considered as an invitation or solicitation to acquire, purchase, or subscribe to securities. For complete transparency, please note that BTC Inc., the parent organization of UTXO Management, holds a stake in HK Asia Holdings Limited (1723.HK) in collaboration with Sora Ventures and other entities.
