Bitcoin Journal
HK Asia Holdings Turns into First in China to Undertake Bitcoin Treasury
HK Asia Holdings (HKEX: 1723), quickly to be renamed Moon Inc., has made historical past as the primary publicly traded firm in Better China to undertake a Bitcoin treasury technique. In a current dialogue hosted by Allen Helm of Bitcoin For Firms, new CEO John Riggins outlined the corporate’s pivot, its regulatory alignment with Hong Kong, and the broader momentum constructing throughout Asia.
Riggins, a longtime Bitcoin advocate with in depth expertise throughout China and Southeast Asia, defined that the transfer was pushed by each long-term conviction and a positive shift in regulatory posture in Hong Kong. He mentioned the corporate had spent months consulting with regulators, public market buyers, and native companions earlier than executing the transition.
Initially centered on SIM playing cards and pay as you go tech merchandise, HK Asia Holdings now goals to combine Bitcoin each as a steadiness sheet asset and into its enterprise mannequin. This contains plans to roll out Bitcoin-related choices by its retail footprint, resembling ATMs and pay as you go Bitcoin merchandise.
The corporate’s first steps included the acquisition of 8.88 BTC throughout a post-acquisition interval, adopted by one other 10 BTC buy as soon as the management transition was finalized—bringing its whole holdings to 18.88 BTC, valued at over $1.7 million on the time of announcement. Riggins mentioned additional accumulation is deliberate, although it’s going to proceed in accordance with Hong Kong’s measured however clear regulatory steerage.
“We see it as a technique to shield our steadiness sheet, and we see it as a technique to diversify, our treasury with an eye fixed on how the remainder of the world is shifting,” mentioned Riggins.
The strategic intent goes far past hypothesis. Riggins framed Bitcoin as a hedge towards macro uncertainty, a device for long-term resilience, and a bridge to rising international monetary infrastructure. He additionally emphasised how company boards within the area are starting to have interaction extra severely with the concept, pointing to MetaPlanet in Japan and Technique within the U.S. as compelling precedents.
Whereas Asia’s company Bitcoin adoption continues to be in its early phases, curiosity is rising quick. Riggins highlighted South Korea, Thailand, Malaysia, and Indonesia as markets with clear potential to comply with swimsuit. A lot of the motion, he famous, is going on quietly behind the scenes—particularly in China, the place institutional stakeholders and state-connected buyers are actively monitoring U.S. coverage shifts and company adoption traits.
“I’m flooded with messages increasingly from, folks within the authorities, folks, you realize, institutional buyers who’re kinda watching this area intently searching for inside details about what’s occurring right here,” mentioned Riggins.
Though no formal public strikes have been introduced by Chinese language state entities, Riggins believes Bitcoin is already being held not directly by government-affiliated organizations, together with state-connected funding arms. He recommended these holdings could also be extra important than publicly recognized. With the U.S. shifting towards a strategic Bitcoin reserve, he sees China intently watching—and probably following—if international coverage momentum continues to shift.
Trying forward, Moon Inc. plans to increase its Bitcoin holdings inside Hong Kong’s regulatory framework and function a mannequin for different Asian corporations exploring related methods. The corporate will co-host Bitcoin Asia this August in Hong Kong, positioning itself as a regional trailblazer and serving to catalyze broader company adoption throughout Asia.
Disclaimer: This content material was written on behalf of Bitcoin For Firms. This text is meant solely for informational functions and shouldn’t be interpreted as an invite or solicitation to amass, buy, or subscribe for securities. For full transparency, please be aware that BTC Inc., the mother or father firm of UTXO Administration, holds a stake in HK Asia Holdings Restricted (1723.HK) in partnership with Sora Ventures and different entities.
This put up HK Asia Holdings Turns into First in China to Undertake Bitcoin Treasury first appeared on Bitcoin Journal and is written by Nick Ward.