Prime Win Worldwide modified its company title to AsiaStrategy on Aug. 22 in Hong Kong, stored its Nasdaq ticker SORA, and commenced accepting Bitcoin for watch gross sales, the corporate stated.
The transfer follows a months-long restructuring that introduced Sora Ventures into Prime Win’s public firm construction in Could, a path that prevented a separate itemizing by utilizing an current issuer to pursue a Bitcoin treasury and capital markets technique.
Days later, the corporate confirmed a ticker change to SORA and board modifications led by Sora Ventures cofounder Jason Fang, formalizing the pivot whereas retaining the underlying watch buying and selling and distribution enterprise headquartered in Hong Kong.
For the reason that merger, the corporate has used fairness and governance to construct publicity to the Bitcoin company ecosystem in Asia. In late Could, it introduced strategic stakes in Metaplanet and HK Asia Holdings, two regional bellwethers for listed firm Bitcoin methods, aligning its public market footprint with portfolio positions that observe treasury adoption and market improvement.
Earlier within the 12 months, Sora-linked executives joined the board of HK Asia, including operational alignment with a agency present process a Bitcoin-centric revamp, as lined in board modifications at HK Asia Holdings and the following company transition.
Capital for the treasury observe additionally expanded this month. Per an organization replace lined by fomofactorynews, Taiwan-based WiseLink led a 10 million greenback convertible be aware into SORA on Aug. 15, framed as a part of a cross-border finance initiative that allocates proceeds towards Bitcoin acquisition and associated operations.
Phrases disclosed included a three-year be aware construction, with proceeds earmarked for steadiness sheet deployment and strategic investments that complement the rebrand. The elevate connects with Sora Ventures’ longer-term plan to propagate a listed firm Bitcoin playbook throughout Asia, following earlier initiatives corresponding to a 150 million greenback fund aimed toward company treasury adoption.
Accepting Bitcoin for watch gross sales brings a transactional layer to the fairness and treasury technique. The corporate retains its distribution community for branded timepieces by Prime Win Worldwide Buying and selling Restricted, now beneath the AsiaStrategy banner, whereas including settlement in Bitcoin on the level of sale.
For readers monitoring market construction, the mixed method locations AsiaStrategy throughout three channels: treasury holdings on the mum or dad degree, strategic stakes in different listed corporations executing related applications, and direct commerce utilizing Bitcoin inside its working subsidiary.
The corporate stated a brand new brand will observe the rebrand, and repeated normal forward-looking disclosures concerning regulatory situations, market volatility, and completion dangers, in addition to language widespread to U.S. issuers working in digital belongings.
For context on the trail to Friday’s milestone, see background on the preliminary merger announcement, the ticker and board actions, and the following portfolio strikes into Asian Bitcoin names, which collectively body as we speak’s title change and the addition of Bitcoin funds.
AsiaStrategy stated the title change on Nasdaq and Bitcoin acceptance for watch gross sales took impact on Aug. 22.
