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Moon Inc. said its shares are now available to US investors on the Best Market OTCQX from November 5, following an upgrade from the OTC Pink level and a ringing bell at OTC Markets Group in New York.
The move opens a direct channel for US retail and institutional investors to access the Hong Kong-listed issuer, which trades on the HKEX under code 1723 and has been pivoting from its roots in prepaid connectivity towards Bitcoin-focused consumer products.
The company framed the OTCQX listing as part of a broader capital strategy that aligns with the Bitcoin a standard and tighter commitment than the US market.
Chief executive John Riggins said the higher disclosure bar and visibility are intended to create a cleaner path for US investors to participate in Hong Kong’s regulated digital asset ecosystem and Moon’s expansion into Asia.
Bitcoin Strategy of Moon Inc
The company has completed a legal name change from HK Asia Holdings to Moon Inc. earlier this year, a step that formalized the strategic pivot and preserved the stock code 1723 on HKEX, according to HKEXnews.
The US trading venue update follows Moon’s October funding of around HK$65.5 million, or about US$8.8 million, through a combination of new shares and convertible notes to fund a Bitcoin-enabled prepaid card and a pan-Asian rollout, starting in Thailand and South Korea.
The growth was supported by a group that included Bitcoin miners. The product plan aims to integrate native Bitcoin rails into the company’s prepaid distribution network, positioning Luna to distribute BTC loads through the same cash-in channels used for SIM and mobile top-ups, an approach examined in detail in our coverage of retail cash rails.
A year-long restructuring set the stage for today’s access to the United States.
UTXO Management and Sora Ventures took control of the former HK Asia Holdings in early 2025, and leadership positions were filled by figures associated with the parent of Bitcoin Magazine, moves that helped guide the rebrand and direction of the company’s treasury and product.
Stocks reacted positively during the spring as Moon launched a MicroStrategy 2.0” approach that combines Bitcoin’s metered balance sheet exposure with product integration.
For US investors, OTCQX access reduces friction in the trade of a Hong Kong issuer pursuing Bitcoin consumer rails. At the same time, the company continues to perform in Asia, where the use of cash remains high in the up-and-coming retail ecosystems.
The model Moon pursues treats BTC as mobile credit, a distribution angle that differs from exchange apps and target segments that finance digital through physical agents rather than banking channels.
Execution is dependent on licenses, issuer partnerships and agent activation in each market.
Regulators in Singapore have enforced a deadline of June 30, 2025, prompting some overseas operators to reassess their footprints. This development has focused attention on Hong Kong and Dubai for digital assets activities.
Hong Kong’s position, including the spot listing of BTC and ETH ETFs, has broadened mainstream engagement with digital assets.
If Moon can convert a portion of its prepaid distribution into BTC load points, the near-term revenue lens will be driven by active loaders, average ticket sizes, and mixed rates across spreads, fees, and interchange.
The amount of funding indicates a pilot phase involving country-by-country partners, with the first runners announced being Thailand and South Korea.
While operating costs, compliance and issuer fees will determine the net economy, gross revenue sensitivity can be framed for 2026 exit rates using directional ranges linked to the company’s plan.
| Scenario (release 2026, month) | Active chargers | Average charge ($US) | Blended take rate | Gross income / month | Gross income/year |
|---|---|---|---|---|---|
| Bear | 75,000 | 40 | 1.0% | $30,000 | $0.36 million |
| Base | 250,000 | 70 | 1.5% | $262,500 | $3.15 million |
| Bull | 600,000 | 120 | 2.2% | $1.584 million | $19.0 million |
These intervals depend on the density of agents, the frequency of repeated loading, the issuing partners and processors in each country, the treasury policy and the management of volatility. BTC’s wider volatility can widen spreads, but it can also limit conversion, and program costs for KYC, KYT, and customer support can pressure unit economics.
The cadence of disclosure of a listed vehicle, including the size of the treasury and the economy of the cards, will provide more clarity on the rates of the race as the program scales. The company’s legacy as a prepaid operator is relevant to the cash-in mechanics, which often drive micro-charges and small-ticket behavior in the first months of implementation.
Today’s step in OTCQX aims to expand the base of shareholders who can follow this implementation.
For US market participants, the move increases citation quality and access to corporate disclosure compared to Pink, while preserving the primary listing in Hong Kong and the short name. The company described the update as part of an international growth strategy that includes regional product launches funded by the October capital increase and a focus on governance and transparency. The legal rebrand in June laid the foundations for these actions.
Key milestones to watch for include issuer and license announcements in Thailand and South Korea, activation counts in top-up agents, disclosure of monthly active loaders and average load sizes, and updates on Bitcoin balance policy and risk controls.
The change in the location of the US sale is now in place, giving investors a clearer view into a company based in Hong Kong that is chasing Bitcoin rails through prepaid distribution.
Disclosure: Sora Ventures is an investor in CryptoSlate.
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