Key Notes
- WiseLink backs Top Win with $2M convertible debt in a $10M funding round.
- Top Win will rebrand as AsiaStrategy and expand into Bitcoin holdings.
- Convertible debt offers WiseLink flexibility to convert to shares later.
A Taiwan-listed firm has taken an unusual step into the world of Bitcoin
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reserves. WiseLink has become the main backer in a $10 million funding effort for Top Win International, a Hong Kong luxury watch seller now moving into digital assets.
This marks the first known case of a public company in Taiwan putting money behind a business whose strategy centers on holding Bitcoin.
WiseLink contributed $2 million through convertible debt, which can be turned into shares in the future. The rest came from U.S. investor Chad Koehn and four unnamed private backers.
Top Win’s Shift to Bitcoin Treasury and Strategic Rebranding
Top Win, which trades on Nasdaq under the ticker SORA, is shifting its focus. With support from Sora Ventures, a cryptocurrency investment group based in Asia, the company is undergoing a rebrand to “AsiaStrategy.” Sora Ventures itself will merge into Top Win as part of the change.
The fresh capital will be used mainly to buy Bitcoin, but Top Win might also target other public companies with significant Bitcoin holdings. It disclosed that it will not operate as a financial investment firm or make securities trading its main line of business.
WiseLink’s chief executive, Tsai Kun Huang, noted that the plan is to include Bitcoin holdings directly into the company’s international finance operations. The aim is to improve long-term asset security while using the reserves to support new business models.
Huang points to loose monetary policy worldwide, increasing geopolitical risk, and the search for assets that are decentralized, scarce, and resistant to inflation as reasons for acting now.
Huang explained that using convertible debt instead of buying shares outright provides flexibility. WiseLink can start as a lender, earn steady returns, and protect its initial investment while keeping the option to convert to ownership if Top Win performs well.
This approach secures the partnership without committing to equity prematurely.
Top Win becomes one of the Asian companies, including Metaplanet, to integrate Bitcoin Treasury into its core business. Metaplanet recently reported $8.4 million in revenue and a 35% rise in gross profit.
Similar moves are already common in North America and Europe, with companies like Strategy (formerly MicroStrategy) raising billions to acquire Bitcoin and expand their treasury holdings.
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Rose is a crypto content writer with a strong background in finance and tech. She simplifies complex blockchain and cryptocurrency topics, offering insightful articles and market analysis to help readers navigate the evolving crypto landscape.
