Moon
Moon Inc. is a Hong Kong–listed company that distributes prepaid SIM cards and data plans through 7 retail stores and 710+ wholesale partners, and is pivoting to sell Bitcoin gift cards and cold storage cards across Asia via a BitGo partnership.
- Company typePublic
- Founded1996
- HeadquartersSheung Wan, Hong Kong SAR China
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Moon does
Moon Inc. is a Hong Kong–based, HKEX-listed (ticker: 1723, also trading on OTCQX as MXXNF) company that has operated for nearly 30 years as a distributor of prepaid telecommunications products. Its traditional business procures SIM cards, data plans, and connectivity solutions from network operators and distributes them to general consumers through 7 company-owned retail stores in Hong Kong and a network of over 710 wholesale partners. The company employs between 11 and 50 people and maintains its principal place of business in Sheung Wan, Hong Kong.
Over the past 12 months, Moon Inc. has executed a strategic pivot toward Bitcoin-linked financial products. It launched the Moon Prepaid Bitcoin Gift Card — positioned as the first bitcoin offering from a publicly listed issuer in Greater China — and resells Ballet-brand Bitcoin Cold Storage Cards through its online store, with cards shipping empty so that the company does not handle cryptocurrency sale, transfer, or custody directly. In May 2026, the company entered a strategic partnership with BitGo Holdings, whose MAS-regulated Singapore entity provides institutional-grade custody and infrastructure, enabling expansion into additional consumer card products across Hong Kong, Japan, Thailand, South Korea, and Taiwan starting in Q2 2026. Moon Inc. also began accumulating Bitcoin in its corporate treasury.
The business model combines low-margin, high-volume prepaid telecom distribution (one-time license economics on SIM and data sales) with transaction-fee and resale economics on Bitcoin card products, supported by a treasury strategy that integrates Bitcoin into the balance sheet. The company is currently investing capital raised in an October 2025 US$8.8 million private placement (from Bitcoin miners and investors) to fund Pan-Asian expansion of the Bitcoin card product line, while continuing to serve its legacy Hong Kong telecom customer base.
Moon firmographics
Firmographics- Name
- Moon
- Legal name
- Moon Inc.
- Website
- https://mooninc.hk
- Company type
- Public
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Moon Inc. is a Hong Kong–listed company that distributes prepaid SIM cards and data plans through 7 retail stores and 710+ wholesale partners, and is pivoting to sell Bitcoin gift cards and cold storage cards across Asia via a BitGo partnership.
- Ownership category
- akta.pro rank
Moon industry classification
Industry- Product category
- Mobile Telecommunications Services
- NAICS
- Credit Card Issuing (52221)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Digital Gift Cards, Vouchers & Stored-Value (Crypto) (FSADAIAN)
- akta.pro secondary industries
- Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid) (FSADAIAC), Prepaid Card Program Managers & Issuers (BIN Sponsors) (FSAMANAK)
Keywords
Where Moon is headquartered
LocationHeadquarters
- HQ city
- Sheung Wan
- HQ country
- Hong Kong SAR China
- HQ region
- Asia
Offices2 records
Markets served
Moon business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Telecommunications Prepaid Products: Traditional prepaid telecom products including SIM cards, data plans, and connectivity solutions sold through retail stores and wholesale partner network.
- Bitcoin Prepaid Cards: Bitcoin-enabled prepaid gift cards allowing users to buy, store, and transfer Bitcoin. Cards ship empty and do not involve sale, transfer, or custody of cryptocurrency.
- Bitcoin Treasury: Company accumulates Bitcoin in treasury as part of Bitcoin-forward strategy, integrating Bitcoin into business operations.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Moon product offering
Product offeringCore offering
Moon Inc. procures prepaid SIM cards, data plans, and connectivity solutions from network operators and resells them to consumers through 7 retail stores and 710+ wholesale partners in Hong Kong. The company has extended its product set to include Bitcoin-enabled prepaid gift cards and Ballet-brand Bitcoin cold storage cards, leveraging a partnership with BitGo for institutional-grade digital asset custody, with consumer card products planned for Q2 2026 across Japan, Thailand, South Korea, and Taiwan.
Product overview
Moon Inc. operates as a dual-purpose platform combining traditional telecommunications services with Bitcoin-forward financial products. The company offers SIM cards and data plans through its established retail and wholesale network, while simultaneously pioneering Bitcoin integration via the Moon Prepaid Bitcoin Gift Card, Bitcoin Cold Storage Cards (via Ballet), and Bitcoin treasury accumulation. The telecom products provide foundational connectivity services, while the Bitcoin offerings expand into financial empowerment and digital asset management.
Differentiator
Problem solved
Functional benefit
Products and services
- SIM Cards and Data Plans Prepaid mobile telecommunications products (SIM cards and data plans) providing mobile connectivity solutions, offered to everyday consumers through a network of 7 retail stores and over 710 wholesale partners across Hong Kong.
- Moon Prepaid Bitcoin Gift Card Bitcoin-enabled prepaid gift card that allows users to buy, store, and transfer Bitcoin easily. Powered by a strategic partnership with BitGo Holdings for institutional-grade custody and infrastructure, with cards shipping empty and not involving the sale, transfer, or custody of cryptocurrency by Moon Inc.
- Bitcoin Cold Storage Cards
Companies that use Moon
Customer profileSegments2 records
Ideal customer profiles3 records
Moon technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Moon partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- BitGo HoldingscoreBitGo provides institutional-grade custody and infrastructure services for Moon Inc.'s bitcoin-linked consumer card products across Asia. Initial support for prepaid bitcoin gift card program launching in Hong Kong retail stores and online, with expansion to additional consumer card products planned for Q2 2026. BitGo serves through its MAS-regulated Singapore entity.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Moon competitors and assessment
Company assessmentEmerging players
- Relai: A European Bitcoin-only app for buying and self-custodying BTC; comparable as an emerging niche player targeting simple Bitcoin access for non-technical consumers.
- Coinhako: Singapore-headquartered crypto platform serving retail users across Southeast Asia; comparable as an accessible regional on-ramp for Bitcoin purchases similar to Moon's prepaid gift card model.
Direct peers
- Bitrefill: A platform that lets users buy gift cards, mobile top-ups, and prepaid services using Bitcoin; directly comparable to Moon's prepaid Bitcoin gift card and SIM card top-up offerings.
- River Financial: A Bitcoin-focused financial services firm offering buying, selling, and custody products for individuals and businesses, overlapping Moon's Bitcoin purchase and storage use cases.
- Swan Bitcoin: A Bitcoin-focused platform that enables individuals and businesses to buy, store, and use BTC, comparable to Moon's prepaid Bitcoin gift card and Bitcoin-forward consumer products.
- Ballet: Manufacturer of the Ballet crypto cold storage card that Moon resells; directly comparable as a Bitcoin self-custody hardware gift card product targeting retail consumers.
Broad incumbents
- Coinbase: A large global crypto exchange and wallet provider; competes indirectly by offering retail Bitcoin buying and storage services that overlap with Moon's prepaid Bitcoin card proposition.
- Cash App: Block's consumer payments app with integrated Bitcoin buy, sell, and withdrawal features; a broad incumbent offering accessible Bitcoin entry similar to Moon's gift card model.
Regional players
- OSL: Hong Kong Securities and Futures Commission-licensed digital asset platform offering brokerage, custody, and trading; competes for institutional and retail Bitcoin flows in Moon's core geography.
- HashKey Group: A Hong Kong-licensed virtual asset exchange and on-chain financial services group; operates in Moon's home market and competes for the same regulated Asian retail Bitcoin demand.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Moon social profiles
Digital presenceMoon financial estimates
Financial estimateRevenue estimate
Valuation estimate
Moon leadership team
Management profileNumber of profiles
Profiles8 records
Moon funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Moon M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Moon
What does Moon do?
Moon Inc. procures prepaid SIM cards, data plans, and connectivity solutions from network operators and resells them to consumers through 7 retail stores and 710+ wholesale partners in Hong Kong. The company has extended its product set to include Bitcoin-enabled prepaid gift cards and Ballet-brand Bitcoin cold storage cards, leveraging a partnership with BitGo for institutional-grade digital asset custody, with consumer card products planned for Q2 2026 across Japan, Thailand, South Korea, and Taiwan.
Is Moon a public or private company?
Moon is a public company. It is classified as public and is currently operating.
When was Moon founded?
Moon was founded in 1996. It employs 11 to 50 people.
Where is Moon based?
Moon is headquartered in Sheung Wan, Hong Kong SAR China, in the Asia region.
How does Moon make money?
Three revenue lines are on record. Telecommunications Prepaid Products are the primary driver. The others are bitcoin Prepaid Cards and bitcoin Treasury.
Who are Moon's main competitors?
Emerging players on record are Relai and Coinhako. Direct peers are Bitrefill, River Financial, Swan Bitcoin and Ballet. Broad incumbents are Coinbase and Cash App. Regional players are OSL and HashKey Group.
Does Moon have an API?
No public API is recorded for Moon.
What industry is Moon in?
Moon's product category is Mobile Telecommunications Services. Its primary akta.pro industry code is FSADAIAN, Digital Gift Cards, Vouchers & Stored-Value (Crypto), with a secondary code of FSADAIAC, Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid). Its NAICS code is 52221 and its SIC code is 6200.