Sora will go public on NASDAQ through a strategic partnership with Top Win International Limited (NASDAQ: TOPW). Top Win is a Hong Kong-based luxury watch distributor shifting toward digital assets.
The firm will rebrand as AsiaStrategy (NASDAQ: TOPW). It aims to be Asia’s “MicroStrategy” with a strong Bitcoin treasury and growing Asian portfolio. Shares rose 25% pre-market, showing strong market enthusiasm.
Merging Legacy Business with Blockchain Ambitions
Instead of a standalone initial public offering (IPO), Sora Ventures is integrating itself into TopWin’s existing public company structure. Jason Fang will take on the role of Co-CEO alongside Tony Ngai as part of the rebranding effort. TopWin is expanding beyond its luxury watch business to embrace blockchain and Web3 technologies. The company’s new focus includes adopting Bitcoin as a treasury asset. This strategy is gaining traction worldwide as firms seek to diversify their reserves and hedge against inflation.
Asia Strategy will leverage Sora’s expertise in institutional Bitcoin integration. The idea is to lead investment initiatives and treasury management across Asia’s emerging capital markets. By embedding Sora’s capital deployment strategies within TopWin, the combined entity plans to back at least ten public companies adopting Bitcoin treasury models by the end of the year, committing $150 million in investments.
Excited to announce that Sora will be going public on NASDAQ and rebranding to @asia_strategy (NASDAQ:TOPW). We will focus on building the MicroStrategy of Asia using this entity moving forward, and will build a bitcoin treasury alongside all the entities we’ve built in Asia. https://t.co/eQf33Ig0xE
— Jason Fang (@JasonSoraVC) May 16, 2025
Asia is rapidly becoming a hotspot for blockchain innovation and digital asset adoption. Countries like Singapore, Hong Kong, and Japan have created regulatory environments that encourage crypto growth. Sora Ventures, established in 2018, has positioned itself as a pioneer in the region’s blockchain scene. It was an early partner of Japan’s Metaplanet (TYO: 3350), helping build a public company model focused on Bitcoin treasury strategies similar to MicroStrategy’s in the U.S.
AsiaStrategy Leads Institutional Bitcoin Adoption in Asia
By joining forces with TopWin, AsiaStrategy aims to operate across both traditional luxury goods and digital assets, reflecting a broader trend of companies diversifying portfolios amid a maturing crypto market. According to a 2024 Deloitte survey, over half of large enterprises worldwide are exploring Bitcoin treasury allocations to manage risk and tap growth opportunities.
This move signals growing confidence in Bitcoin as a treasury asset, especially in regions with supportive regulations and high growth potential. For investors watching the evolving blockchain landscape, AsiaStrategy offers a compelling example of how traditional businesses and digital innovation can blend for sustainable growth.
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