In a groundbreaking move, WiseLink, a publicly traded company in Taiwan, has spearheaded a $10 million funding round for Top Win International (Nasdaq: SORA), a Hong Kong-based luxury watch retailer. The deal, which involves a Bitcoin treasury strategy, is a first for a Taiwan-listed firm, Decrypt said in a report.
WiseLink’s CEO, Tsai Kun Huang, told reporters that the company sees a “golden window to implement a Bitcoin capital strategy.” Citing global monetary easing and geopolitical uncertainty, Huang believes there’s an accelerating search for “decentralized, scarce, and inflation-resistant assets” like Bitcoin.
WiseLink led the financing round with a $2 million investment through three-year convertible notes. Other investors included Chad Koehn of United Capital Management of Kansas and four undisclosed private investors.
Top Win International, which is in the process of merging with crypto investment firm Sora Ventures, will use the new capital to acquire Bitcoin. According to Jason Fang, founder of Sora Ventures, this makes Top Win the “only U.S. public company with a Bitcoin treasury play anchored in Asia.” The company, soon to be rebranded as AsiaStrategy, may also invest in other companies with Bitcoin treasury strategies but has no plans to become an investment firm itself.
WiseLink’s CEO emphasized that their vision is not just to buy Bitcoin, but to “tightly integrate Bitcoin reserves with our cross-border financial operations.” The company’s use of convertible notes, rather than straight equity, provides “flexibility and risk management,” allowing them to act as a creditor with principal protection while retaining the option to convert to equity later.
