Key Takeaways
- Top Win International, which operates Taiwan’s first public Bitcoin treasury, raised $10 million led by WiseLink Co Ltd.
- Funds will mainly purchase Bitcoin, with possible investments in other BTC-holding firms.
- Upexi, Nature’s Miracle, and Kitabo are among traditional companies adding crypto to reserves.
- Analysts see the trend as a shift toward diversification, inflation hedging, and yield generation.
Top Win International, a Hong Kong-based luxury watch distributor that recently entered the Web3 space, has raised $10 million to begin building its corporate Bitcoin treasury, the company said on Friday.
The funding round was structured as a three-year convertible note and led by WiseLink Co Ltd (TW: 8932), a Taiwan-listed zipper manufacturer and software firm, marking a rare crypto foray by a traditional industrial company.
Other participants in the round included Chad Koehn, founder of United Capital Management of Kansas, along with four private investors.
Top Win said proceeds will primarily be used to purchase Bitcoin, and it may also consider investments in other listed firms holding BTC. However, it stated that it does not intend to operate as an investment company under U.S. law.
More Traditional Firms Move Into Web3
Top Win and WiseLink are part of a growing trend of established companies from traditional industries committing capital to digital assets.
Upexi Inc, a consumer goods and logistics operator, raised $100 million earlier this year to launch a Solana (SOL) treasury. Since then, it has accumulated nearly 1.8 million SOL worth over $330 million and set up a staking operation projected to generate approximately $26 million annually.
Similarly, U.S.-based agriculture technology company Nature’s Miracle Holding Inc announced a corporate XRP treasury program worth up to $20 million. The initiative, backed by SEC-approved financing from GHS Investments, places the firm within the Ripple ecosystem. Its strategy combines long-term reserves with staking, liquidity for cross-border operations, and broader usage across business functions including payments, loyalty rewards and tokenized sales orders for its controlled-environment agriculture services.
In Japan, Kitabo Co, a 100-year-old textile and recycling company listed on the Tokyo Stock Exchange, said it would invest roughly ¥800 million or about $5.6 million into Bitcoin for its balance sheet. The move is aimed at stabilizing the company after years of financial losses and weak cash flow.
These moves suggest that companies increasingly see blockchain assets, such as Bitcoin and XRP, as tools for diversification, potential yield generation, and hedging against inflation, with some now viewing them as digital counterparts to traditional reserve assets in an increasingly global and technology-driven economy.
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