$1B Asia Bitcoin treasury play: AsiaStrategy starts with 30 BTC, taps Anchorage

AsiaStrategy appointed Anchorage Digital for custody and settlement of its Bitcoin treasury operations and bought 30 BTC on Sept. 30.

Per AsiaStrategy, the mandate covers cross-border workflows in the United States and Asia, with Anchorage Digital serving as primary custodian and infrastructure provider for treasury execution and settlement across the corridor.

According to Anchorage Digital, the mandate is supported by its regulated footprint, including Anchorage Digital Bank N.A., the only federally chartered crypto bank in the United States, Anchorage Digital Singapore, licensed by the Monetary Authority of Singapore, and a New York BitLicense.

Anchorage Digital added that, following enactment of GENIUS, Anchorage Digital Bank became a U.S. federally regulated stablecoin issuer bank, and the platform also offers trading and staking alongside custody. AsiaStrategy said it plans to increase purchases beyond the initial 30 BTC as it builds out its treasury.

The Asia Bitcoin treasury titan

The move formalizes a custody and settlement stack that AsiaStrategy had been assembling through 2025 as it repositioned the company around institutional Bitcoin strategies.

The Hong Kong based firm, listed on Nasdaq under ticker SORA, rebranded in May to focus on digital assets and blockchain initiatives after legacy operations in luxury watch distribution.

The pivot has since combined public-market exposure with operating subsidiaries that accept and settle in Bitcoin, as covered in prior reporting on the firm’s merger and rebrand with Sora Ventures and related strategic investments in the region through the summer of 2025, including capital allocation toward an Asian Bitcoin treasury model.

In September, AsiaStrategy expanded commercial rails by enabling sales of high-end watches settled in Bitcoin following a $10 million raise, integrating retail and treasury functions through the same asset base to align inventory cash cycles with BTC liquidity and settlement timing.

The group has also participated in cross-border transactions targeting Thailand, where a consortium of Asian firms pursued acquisitions to extend a public-company Bitcoin treasury model into Southeast Asia’s retail and listed-vehicle landscape.

Regional expansion has been framed against the scale of the ASEAN economy and the potential to route balance-sheet BTC through local operating units and listed structures, as previously detailed in analysis of corporate treasuries eyeing an ASEAN Bitcoin treasury pathway.

Funding capacity for institutional allocation has been a parallel track. Earlier this month, Sora outlined a $1 billion Bitcoin fund with $200 million already committed, positioning a pool of capital that could interoperate with listed-company treasuries, private vehicles, and settlement intermediaries across the region, creating potential counterparties for AsiaStrategy’s treasury operations and Anchorage’s settlement rails.

That pool, alongside Anchorage Digital’s bank-chartered custody and settlement, provides a path for larger balance-sheet deployments that require regulated segregation, audited controls, and standardized post-trade workflows across jurisdictions.

What does this mean for AsiaStrategy?

Operationally, the Anchorage mandate gives AsiaStrategy a single control plane for cold and warm storage, on and off ramp settlement, and agency or principal execution, while preserving auditability across Hong Kong, U.S. and Singapore entities.

Anchorage Digital says its platform supports institutional settlement cycles that can be aligned to corporate accounting periods and disclosure timelines, as well as stablecoin issuance programs under the new GENIUS framework.

For AsiaStrategy, that stack reduces friction in reconciling BTC inventory for both treasury and commerce, addressing settlement finality, cut-off times and counterparty risk through a regulated custodian.

AsiaStrategy’s timeline across 2025 shows how those pieces have been staged to converge on treasury deployment.

The company rebranded in May, advanced M&A and regional initiatives in July, expanded operating rails in September, and is now live with custody and settlement for treasury purchases.

The 30 BTC acquisition on Sept. 30 starts the balance-sheet leg of that plan and sets a reference point for subsequent purchases, with Anchorage as the system of record for movements between trading, custody and settlement accounts.

Luke Liu, AsiaStrategy’s chief investment officer, said the company is building to scale Bitcoin treasury across Asia, noting that the Anchorage tie-up secures the infrastructure required for that plan.

Where AsiaStrategy stands out

The company’s approach mirrors a playbook used by other public companies that financed BTC balance-sheet strategies through a mix of equity raises, operating cash flows and structured instruments, then paired those allocations with integrated commerce that accepts BTC to shorten settlement cycles.

AsiaStrategy’s watch business, now enabled for Bitcoin settlement, demonstrates how retail sales can feed BTC flows directly into treasury, creating internal netting between incoming and outgoing transactions.

That design, when conducted through a federally chartered custodian, can simplify controls for auditors and investors who track wallet segregation, role-based access and board-approved treasury policies.

Where AsiaStrategy extends the model is in its cross-border posture.

With Anchorage Digital Bank in the United States and a licensed entity in Singapore, treasury teams can route liquidity between U.S. dollar rails, Singapore regulatory frameworks and Hong Kong operations without re-architecting custody each time a jurisdiction changes.

Anchorage Digital’s settlement services are designed to bridge trading venues and over-the-counter flows with custody movements, which is relevant for a listed company that must coordinate disclosure windows, blackout periods and insider-trading constraints with treasury activity.

AsiaStrategy said its initial 30 BTC purchase is not a cap, and that it plans to add to holdings while building out treasury governance under the new custody arrangement.

The company emphasized that Anchorage Digital will remain its primary infrastructure partner for custody and settlement as it executes additional purchases and extends treasury operations across the U.S.–Asia corridor.

Disclaimer: Sora Ventures is an investor in CryptoSlate.