Brazilian Fintech Méliuz Eyes U.S. OTC Markets as Bitcoin Strategy Fuels 200% Stock Surge
Brazilian cashback and financial services company Méliuz (CASH3) announced plans to pursue a listing on the US OTC Markets, specifically targeting the premium OTCQX segment.
The company revealed this strategic move in a recent market filing as its stock price has skyrocketed nearly 200% this year. Unlike traditional listings on Nasdaq or the New York Stock Exchange, OTC Markets facilitate direct trading between parties through brokers or electronic platforms.
The OTCQX tier demands the highest standards of governance and compliance among OTC segments, attracting quality international companies. Méliuz stated that this listing would strengthen connections with international investors and increase visibility for its shares.
Several other Brazilian firms have already taken this path, including WEG, Iochpe-Maxion, and Minerva. The company’s remarkable stock performance stems largely from its bold Bitcoin treasury strategy.
Shareholders recently approved Bitcoin investments as part of the company’s business model. Méliuz quickly acted on this approval by purchasing 275 bitcoins for approximately $28.4 million at an average price of $103,600 per bitcoin.
This recent acquisition follows an earlier March purchase of 45.73 bitcoins. The company now holds a total of 320 bitcoins acquired at an average price of $101,700 per bitcoin.
This move established Méliuz as the first publicly traded company in Brazil and Latin America to adopt Bitcoin as a treasury asset. The company shows no signs of slowing its cryptocurrency strategy.
Méliuz is actively exploring fundraising options to support further Bitcoin investments. These options include issuing debt securities and conducting a primary public offering of ordinary shares with potential subscription bonuses.
Founded in 2011, Méliuz began as a cashback service for online shoppers before expanding into broader financial services. The company now serves over 30 million users with products including a digital account, credit card, and investment options.
The market has responded enthusiastically to this strategic shift. Méliuz’s market capitalization now stands at R$694 million ($138 million) on the Brazilian stock exchange.
The company’s stock price has more than doubled since implementing its Bitcoin treasury strategy in early March.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| BTC | 63,384 | -0.26% | -47.24% | 63,552 | 64,346 | 63,305 | 22,774,743,040 |
| ETH | 1,886 | +0.26% | -58.90% | 1,881 | 1,920 | 1,879 | 7,916,475,392 |
| SOL | 75.89 | -0.40% | -60.44% | 76.20 | 76.99 | 75.39 | 1,473,821,056 |
| XRP | 1.01 | -1.15% | -69.07% | 1.02 | 1.02 | 1.01 | 1,144,044,416 |
| BNB | 609.60 | -1.12% | -26.81% | 616.50 | 619.30 | 609.23 | 1,266,706,432 |
| ADA | 0.18 | -1.98% | -78.22% | 0.19 | 0.19 | 0.18 | 238,085,632 |
| DOGE | 0.07 | -1.56% | -70.00% | 0.07 | 0.07 | 0.07 | 553,256,192 |
| AVAX | 6.38 | +1.04% | -74.11% | 6.32 | 6.42 | 6.21 | 248,470,560 |
| LINK | 8.77 | -0.06% | -62.73% | 8.77 | 8.87 | 8.68 | 317,054,880 |
| DOT | 0.78 | -0.75% | -81.11% | 0.79 | 0.80 | 0.78 | 43,490,492 |
| LTC | 45.08 | -0.85% | -65.45% | 45.47 | 45.59 | 44.98 | 143,727,712 |
| BCH | 213.85 | +0.10% | -65.44% | 213.64 | 215.69 | 212.54 | 137,956,688 |
| TRX | 0.34 | +0.28% | -4.73% | 0.33 | 0.34 | 0.33 | 436,576,064 |
| XLM | 0.16 | -1.33% | -64.46% | 0.16 | 0.16 | 0.16 | 89,559,864 |
| HBAR | 0.07 | -0.53% | -74.67% | 0.07 | 0.07 | 0.07 | 22,546,186 |
| NEAR | 1.65 | +2.42% | -40.55% | 1.62 | 1.68 | 1.61 | 187,591,264 |
| ATOM | 1.40 | -2.36% | -70.15% | 1.44 | 1.44 | 1.40 | 18,626,964 |
| AAVE | 89.06 | +0.93% | -72.33% | 88.24 | 90.20 | 88.19 | 129,099,704 |
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