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.
“We see it as a way to protect our balance sheet, and we see it as a way to diversify, our treasury with an eye on how the rest of the world is moving,” said Riggins.
The strategic intent goes far beyond speculation. Riggins framed Bitcoin as a hedge against macro uncertainty, a tool for long-term resilience, and a bridge to emerging global financial infrastructure. He also emphasized how corporate boards in the region are beginning to engage more seriously with the idea, pointing to MetaPlanet in Japan and Strategy in the U.S. as compelling precedents.
While Asia’s corporate Bitcoin adoption is still in its early stages, interest is growing fast. Riggins highlighted South Korea, Thailand, Malaysia, and Indonesia as markets with clear potential to follow suit. Much of the movement, he noted, is happening quietly behind the scenes—especially in China, where institutional stakeholders and state-connected investors are actively monitoring U.S. policy shifts and corporate adoption trends.
“I’m flooded with messages more and more from, people in the government, people, you know, institutional investors who are kinda watching this space closely looking for inside information about what’s happening here,” said Riggins.
Although no formal public moves have been announced by Chinese state entities, Riggins believes Bitcoin is already being held indirectly through government-affiliated organizations, including state-connected investment arms. He suggested these holdings may be more significant than publicly known. With the U.S. moving toward a strategic Bitcoin reserve, he sees China closely watching—and potentially following—if global policy momentum continues to shift.
Looking ahead, Moon Inc. plans to expand its Bitcoin holdings within Hong Kong’s regulatory framework and serve as a model for other Asian companies exploring similar strategies. The company will co-host Bitcoin Asia this August in Hong Kong, positioning itself as a regional trailblazer and helping catalyze broader corporate adoption across Asia.
Disclaimer: This content was written on behalf of Bitcoin For Corporations. This article is intended solely for informational purposes and should not be interpreted as an invitation or solicitation to acquire, purchase, or subscribe for securities. For full transparency, please note that BTC Inc., the parent company of UTXO Management, holds a stake in HK Asia Holdings Limited (1723.HK) in partnership with Sora Ventures and other entities.