Moon Inc. Raises $8.8M To Put BTC On Prepaid Cards In Asia

Moon Inc. (HKEX: 1723) has raised roughly $8.8 million to launch a Bitcoin pay as you go card in Thailand and South Korea, with plans to increase into Asia. The corporate, a pacesetter in pay as you go connectivity and digital asset options, confirmed its profitable fundraising of HK$65.5 million earlier in the present day.

The spherical was supported by a consortium of Bitcoin miners and buyers via the issuance of recent shares and convertible notes, based on a word shared with Bitcoin Journal.

“The profitable completion of this personal placement marks one other essential milestone in Moon Inc.’s development, and we’re grateful for the arrogance our new and present buyers have proven in our long-term imaginative and prescient,” mentioned John Riggins, CEO of Moon Inc.

The proceeds will assist Moon Inc.’s pan-Asian enlargement, based on a submitting with the Hong Kong Inventory Alternate. beginning with Thailand and South Korea, along with the launch of its Bitcoin-enabled pay as you go card.

The playing cards permit customers to accumulate, retailer and switch Bitcoin with out the complexity of conventional wallets, using Moon Inc.’s pay as you go telecom experience. is mixed with progressive digital asset performance.

In different phrases, the playing cards permit folks to simply purchase and ship Bitcoin with out the necessity for a separate crypto pockets – primarily like a pay as you go calling card.

Wanting forward, Moon Inc. evaluates Taiwan, Japan and Vietnam on future development alternatives.

Conventional markets are merging with the Bitcoin financial system

Riggins framed the fundraising and the brand new pay as you go card as a step towards bridging conventional capital markets throughout the Bitcoin financial system, leveraging Moon Inc.’s present wholesale telecom distribution networks.

“We see this as greater than a fundraiser – it’s a vote of confidence in Hong Kong’s function as a gateway for regulated digital asset innovation and in Moon Inc.’s capacity to bridge conventional capital markets and the Bitcoin financial system,” mentioned Riggins.

In March, the corporate turned the primary publicly traded firm in Larger China to undertake a Bitcoin treasury technique, integrating Bitcoin into each its steadiness sheet and retail enterprise mannequin.

The fundraising follows the bulk acquisition of Moon Inc. by Sora Ventures and UTXO Administration earlier this 12 months, a transfer that accelerated the corporate’s strategic initiatives and broadened its digital asset providing.

Along with the pay as you go card, Moon Inc. additionally recognized for being named one in every of Hong Kong’s 10 Most Progressive Corporations by Hong Kong. Capital journal.

“We’re honored to be acknowledged for driving Bitcoin adoption in Asia, particularly via our pay as you go Bitcoin card,” mentioned Riggins.

Disclaimer: Moon Inc is a portfolio firm of UTXO managementa regulated capital allocator targeted on the digital property business. Bitcoin Journal is owned by BTC Inc., which operates UTXO Administration. UTXO invests in quite a lot of Bitcoin firms and maintains vital stakes in digital property.