Top Win International, known as SORA on Nasdaq, has recently received a significant investment of $10 million from a group of investors led by WiseLink. This groundbreaking deal marks the first instance of a Taiwanese public company investing in a Bitcoin treasury-focused firm.
The investment was made through a three-year convertible note as part of WiseLink’s “Bitcoin + Cross-Border Finance” initiative. Top Win, based in Hong Kong, has traditionally been involved in the trading, distribution, and retail of luxury watches. However, the company made a strategic shift towards digital assets in May 2025 through a partnership with Sora Ventures.
The core of Top Win’s new strategy involves holding Bitcoin on its balance sheet and investing in other publicly listed companies with similar treasury models. This shift in focus came after the company went public in April 2025 and changed its ticker symbol from TOPW to SORA.
WiseLink, a company traded on the Taiwan Stock Exchange under the symbol 8932, specializes in fintech services in India and develops SaaS solutions. Their investment in Top Win sets the stage for a strategic capital and technology collaboration aimed at integrating Bitcoin treasury management with cross-border financial operations.
The funds secured by Top Win will primarily be used to acquire Bitcoin, with potential allocations towards other listed companies pursuing Bitcoin treasury strategies, as well as for working capital. Previous investments by Top Win include stakes in HK Asia Holdings and Metaplanet, the latter holding a substantial amount of BTC valued at approximately $800 million.
Jason Fang, co-founder of Sora Ventures, was recently appointed as chairman and co-chief executive of Top Win, signaling a strong push towards blockchain and digital asset strategies. The company plans to expand regionally into markets such as Thailand, Taiwan, and South Korea, with a focus on scaling their Bitcoin-centric capital allocation model.
The recent financing deal with WiseLink adds a cross-border element to Top Win’s strategy, connecting Taiwan’s public markets with Hong Kong’s digital asset initiatives. While specific terms of the convertible note have not been disclosed, the structure positions both companies to align long-term capital deployment with their Bitcoin treasury goals.
It’s important to note that Top Win has emphasized compliance with regulatory requirements and has no intention of operating as an investment company under U.S. securities law. The transaction with WiseLink marks another milestone in the company’s evolution from a traditional luxury goods business to a hybrid retail and digital asset platform.
Overall, this investment represents a significant step in Top Win’s journey towards becoming a key player in the Bitcoin treasury space, with strategic partnerships and a clear focus on digital assets driving their growth and expansion.