In an important move to strengthen the presence of Bitcoin magazine in Asia, HK Asia Holdings (01723.HK) announced a significant leadership change on March 14, 2025.
New Leadership at Helm
A crypto industry veteran with over 10 years of experience, John Edwin Riggins has been appointed as the new CEO of HK Asia Holdings. Riggins, a founding partner of the UTXO Bitcoin Ecosystem Fund and a partner of BTC Inc (the parent company of Bitcoin Magazine), has helped drive Bitcoin Magazine’s Asian expansion over the past nine years..
Alongside Riggins, Solaventure founder Jason Fan takes on the role of chairman, further strengthening the company’s strategic direction.
Bitcoin Magazine’s first public company in Asia
This leadership change marks Bitcoin Magazine’s first foray into the Asian open market, following the success of Metaplanet, supported by UTXO Management and the capital and resources of SORA Ventures..
The conclusion of the general offer period in 1723 indicates a strong entry into the open market in Hong Kong, and since its announcement, stocks have already experienced an astonishing surge of over 1600%..
Expanding the influence of Bitcoin in traditional finance
Under Riggins’ leadership, Bitcoin Magazine has formally established its presence in Hong Kong, cementing its city’s position as an important hub for Bitcoin adoption in traditional finance. The company’s recent achievements include:
Last year, Bitcoinasia will be held in Hong Kong, Asia’s largest Bitcoin conference
The world’s largest Bitcoin ecosystem fund was launched the previous year
Asia’s transformation initiative
Using Metaplanet and 1723.hk, Bitcoin Magazine is leading a transformational initiative in Asia. This ambitious project aims to:
Attracting companies that are publicly available in Asia
Addressing the bottlenecks faced by retailers seeking to buy Bitcoin locally
Introducing structured products that utilize Bitcoin Ministry of Finance
Backed by Bitcoin Magazine’s US headquarters led by David Bailey and strengthened by a local partnership with Sora Ventures, the team is poised to redefine the future of finance in Hong Kong and beyond..
Impact on the crypto industry
This strategic move by Bitcoin Magazine coincides with the growth trends of traditional financial institutions adopting cryptocurrency. As Cryptoslate previously reported, companies like Fidelity have developed long-term plans for intermediary, investment services, and even mining in crypto spaces..
The change in leadership at HK Asia Holdings also occurs when the crypto industry sees regulatory scrutiny and an increasing number of evolving frameworks. For example, Argentina recently imposed registration and cybersecurity requirements on virtual asset service providers, and introduced new regulations for strict crypto monitoring..
As Bitcoin Magazine takes this important step in Asia, it will be interesting to see how this move will affect the wider adoption of Bitcoin and other cryptocurrencies in traditional finance across the region.
