Lion Group Holding Ltd. (LGHL) and Eyenovia Inc. unveiled separate major financing moves this week to launch cryptocurrency treasury strategies centered on Hyperliquid’s HYPE token.

LGHL announced it has secured a $600 million facility to launch the first and largest HYPE treasury in Asia. The Singapore-based trading and financial services firm also revealed intentions to include Solana (SOL) and Sui (SUI) in the reserve as secondary reserve assets.

Custody and staking will be managed by BitGo Trust Company.

As part of its expansion, LGHL plans to evaluate secondary listings on the Tokyo Stock Exchange and Singapore Exchange to broaden its reach. CEO Wilson Wang said the move reflects the company’s conviction that decentralized on-chain execution is the future of trading.

Wang said in a statement:

“We view protocols like HYPE, with delegated sequencing, as foundational to building scalable DeFi systems.”

Meanwhile, Eyenovia announced a $50 million private placement to build a reserve of HYPE, positioning itself as the first U.S.-listed company to add the crypto to its treasury.

The ophthalmic technology firm expects the transaction to yield about $150 million if warrants are fully exercised. The funding agreement enables Eyenovia to acquire over 1 million HYPE and participate as a top validator for the Hyperliquid network.

Eyenovia CEO Michael Rowe said:

“We are pleased to join the growing number of companies who have adopted similar strategies for diversification, liquidity and long-term capital appreciation potential that cryptocurrency represents.”

The company appointed Hyunsu Jung as Chief Investment Officer to oversee the treasury initiative.

Both announcements come amid broader adoption of major Layer-1 cryptos as treasury reserves by public companies seeking digital asset diversification and yield generation.

Eyenovia expects its private placement to close around June 20, pending customary approvals. LGHL did not specify a timeline but said its initiative marks the relaunch of its crypto operations after prior restructuring.

The post Two public firms announce plans to adopt HYPE as primary reserve asset for treasury appeared first on CryptoSlate.

The CIO of the crypto asset management firm Bitwise says Bitcoin (BTC) is going through the next phase of its natural evolution.

In a new Crypto Prime interview, Matt Hougan points out a key difference between the current Bitcoin bull market and the one witnessed in 2020.

According to Hougan, the current market cycle is being driven by major institutions laying the groundwork for Bitcoin’s evolution into a trusted store of value.

“The Bitcoin of today really is different than the Bitcoin of five years ago. That was a Bitcoin driven by retail investors and crypto-native investors. This is increasingly a Bitcoin driven by institutions, corporations, governments and macro hedge funds. 

And you’re seeing it behave differently. You’re seeing it behave more like a hedge asset. I think it’s maturing before our eyes. Bitcoin’s a teenager. It’s 15 years old. It’s in a transition phase from a risk asset to a hedge asset. But I think that’s the direction of travel. I think you’re going to see it act like that more and more in the future.

And as it does, it’s going to bring more investors into it because it’s a really useful tool in the macro quiver.”

At time of writing, Bitcoin is trading for $94,703.

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HK Asia Holdings (Hkex: 1723) was soon renamed Moon Inc. and made history as the first public company in Great Fahrenheit to adopt the Bitcoin Treasury strategy. In a recent discussion hosted by Allen Helm Bitcoin for businessesnew CEO John Riggins outlined the company’s pivot, regulatory alignment with Hong Kong, and wider momentum buildings across Asia.

Riggins, a longtime Bitcoin advocate with extensive experience in China and Southeast Asia, explained that the move was driven by both a long-term conviction in Hong Kong and a positive change in regulatory stance. He said the company had been consulting with regulators, open market investors and local partners for several months before implementing the transition.

Originally focusing on SIM cards and prepaid high-tech products, HK Asia Holdings is currently aiming to integrate Bitcoin into both its balance sheet assets and its business model. This includes plans to deploy Bitcoin-related offerings through retail footprints, such as ATMs and prepaid Bitcoin products.

The company’s first steps included the acquisition of 8.88 BTC during the post-acquisition period, followed by a purchase of 10 bTC after the leadership transition was finalized. Its total holdings were acquired at 18.88 BTC, exceeding $1.7 million at the time of its announcement. Riggins said it will proceed according to Hong Kong’s measured but transparent regulatory guidance, but further accumulation is planned.

“We see it as a way to protect our balance sheets and a way to diversify it. Our Treasury Department is looking at how the rest of the world is moving,” Riggins said.

Strategic intentions go far beyond speculation. Riggins has assembled Bitcoin as a hedge against macro uncertainty, as a tool for long-term resilience and a bridge to new global financial infrastructure. He also highlighted how the regional corporate committees are beginning to become seriously involved in ideas, pointing to Japan’s metaplanet and US strategy as a compelling precedent.

Although the adoption of Asian companies Bitcoin is still in its early stages, interest is rapidly growing. Riggins highlights South Korea, Thailand, Malaysia and Indonesia, and it emphasizes it as a market that clarifies the possibility of following. He noted that much of the movement is happening quietly behind the scenes, especially in China.

“I’m more and more filled with messages like government people, people, you know, looking closely for inside information about what’s going on here in this space,” Riggins said.

No formal public moves have been announced by Chinese state entities, but Riggins believes Bitcoin is already held indirectly through government-related organizations, including the state-related investment sector. He suggested that these holdings could be more important than publicly known. As the US moves towards a strategic Bitcoin reserve, he sees China closely and potentially following if global policy momentum continues to change.

Moon plans to expand Bitcoin Holding within Hong Kong’s regulatory framework and serve as a model for other Asian companies exploring similar strategies. The company co-hosted Bitcoin Asia in Hong Kong this August, establishing its position as a regional pioneer and helping to promote the recruitment of a wider range of companies across Asia.

Disclaimer: This content was written on behalf of Bitcoin for businesses. This article is for informational purposes only and should not be construed as an invitation or solicitation to acquire, purchase, or subscribe to any securities. For full transparency, please note that BTC Inc., the parent company of UTXO Management, holds a stake in HK Asia Holdings Limited (1723.HK) in collaboration with SORA Ventures and other entities.