Moon Inc. stated its shares at the moment are obtainable to U.S. buyers on the OTCQX Greatest Market as of Nov. 5, following an improve from the OTC Pink tier and a bell ringing at OTC Markets Group in New York.
The transfer opens a direct channel for U.S. retail and institutional buyers to entry the Hong Kong-listed issuer, which trades on the HKEX below code 1723 and has been pivoting from its roots in pay as you go connectivity towards Bitcoin-focused client merchandise.
The corporate framed the OTCQX commencement as a part of a broader capital technique that aligns with a Bitcoin normal and tighter U.S. market engagement.
Chief govt John Riggins stated the upper disclosure bar and visibility are meant to create a cleaner pathway for U.S. buyers to take part in Hong Kong’s regulated digital asset ecosystem and Moon’s growth throughout Asia.
Moon Inc’s Bitcoin technique
The corporate accomplished a authorized title change from HK Asia Holdings to Moon Inc. earlier this yr, a step that formalized the strategic pivot and preserved the 1723 inventory code on HKEX, in line with HKEXnews.
The U.S. buying and selling venue improve follows Moon’s October financing of roughly HK$65.5 million, or roughly US$8.8 million, by a mix of recent shares and convertible notes to fund a Bitcoin-enabled pay as you go card and a Pan-Asian rollout, beginning in Thailand and South Korea.
The elevate was supported by a gaggle that included Bitcoin miners. The product plan goals to combine Bitcoin-native rails into the corporate’s legacy pay as you go distribution community, positioning Moon to distribute BTC masses by the identical cash-in channels used for SIMs and cell top-ups, an method examined intimately in our protection of retail money rails.
A yearlong restructuring set the stage for at the moment’s U.S. entry milestone.
UTXO Administration and Sora Ventures took management of the previous HK Asia Holdings in early 2025, and management positions have been crammed by figures related to Bitcoin Journal’s guardian, strikes that helped steer the rebrand and the corporate’s treasury and product route.
Shares reacted positively throughout the spring as Moon launched a MicroStrategy 2.0” method that blended measured balance-sheet Bitcoin publicity with product integration.
For U.S. buyers, OTCQX entry reduces friction in buying and selling a Hong Kong issuer pursuing Bitcoin client rails. On the identical time, the corporate continues to execute in Asia, the place money utilization stays excessive throughout retail top-up ecosystems.
The mannequin Moon is pursuing treats BTC like cellphone credit score, a distribution angle that differs from change apps and targets segments that fund digitally by bodily brokers fairly than banked channels.
The execution hinges on licensing, issuer partnerships, and agent activation in every market.
Regulators in Singapore enforced a June 30, 2025, deadline, prompting some overseas-facing operators to reassess their footprints. This improvement has concentrated consideration on Hong Kong and Dubai for digital asset exercise.
Hong Kong’s stance, together with the itemizing of spot BTC and ETH ETFs, has broadened mainstream engagement with digital property.
If Moon can convert a portion of its pay as you go distribution into BTC loading factors, the near-term income lens shall be pushed by energetic loaders, common ticket sizes, and blended take-rate throughout spreads, charges, and interchange.
The financing quantity signifies a pilot section involving country-by-country companions, with the primary introduced corridors being Thailand and South Korea.
Whereas working prices, compliance, and issuer charges will decide web economics, gross income sensitivity may be framed for 2026 exit charges utilizing directional ranges tied to the corporate’s plan.
| Situation (2026 exit, month-to-month) | Lively loaders | Avg load (US$) | Blended take-rate | Gross income / month | Gross income / yr |
|---|---|---|---|---|---|
| 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 ranges rely on agent density, repeat load frequency, issuer and processor partnerships in every nation, treasury coverage, and volatility administration. Wider BTC volatility can increase spreads however may constrain conversion, and program-level prices for KYC, KYT, and buyer help can stress unit economics.
A listed automobile’s disclosure cadence, together with treasury sizing and card economics, will present extra readability on run charges as this system scales. The corporate’s legacy as a pay as you go operator is related to cash-in mechanics, which regularly drive micro-loads and small-ticket habits within the early months of deployment.
At the moment’s step into OTCQX goals to broaden the shareholder base that may observe that deployment.
For U.S. market individuals, the transfer enhances citation high quality and company disclosure entry in comparison with Pink, whereas preserving the first itemizing in Hong Kong and the quick title. The corporate described the improve as a part of a global development technique that features regional product launches funded by the October capital elevate and a give attention to governance and transparency. The authorized rebrand in June laid the groundwork for these actions.
Key milestones to observe embrace issuer and licensing bulletins in Thailand and South Korea, activation counts throughout top-up brokers, disclosure of month-to-month energetic loaders and common load sizes, and updates on balance-sheet Bitcoin coverage and threat controls.
The U.S. over-the-counter venue shift is now in place, offering buyers with a clearer view right into a Hong Kong-based firm pursuing Bitcoin rails by pay as you go distribution.
Disclosure: Sora Ventures is an investor in CryptoSlate.
