Méliuz announced on Friday (15) that its company stock receipts would now be traded on the OTCQX Markets in the United States under the ticker MLIZY. The company partnered with JP Morgan Chase to serve as the depositary bank for American Depositary Receipts (ADR) in the US.
Market participants can purchase Méliuz stocks on the Brazilian stock exchange, B3, and then convert them into ADRs for trading in the US market, with each ADR on OTCQX equivalent to two company shares on B3.
Méliuz aims to increase its visibility with global investors and enhance its role as a Bitcoin Treasury Company by participating in this initiative. Trading on OTCQX has no impact on stock trading in Brazil.
The OTC operates as a “over-the-counter market” where brokers can price and trade securities, offering a cost-effective option with fewer regulations compared to established stock exchanges like Nasdaq or the New York Stock Exchange (NYSE).
The dual listing aims to appeal to potential investors by offering the opportunity to profit from price differences in B3 stocks listed elsewhere.
The Méliuz bitcoin box serves as a significant distraction for the international investor, enabling them to maintain indirect exposure to the asset and potentially benefit from any increase in value.
The Brazilian company holds 595.7 bitcoins, which is valued at US$ 71.48 million, or R$ 386 million in local currency.
Méliuz, a Brazilian platform, provides cashback, discount coupons for online purchases, and financial services like cards and digital accounts. The company has experienced a significant increase in its stock value since it started acquiring Bitcoins in May. As of August 13, the stock has risen by 119.17% in the year.
This text was generated by an AI using reliable information and was reviewed by journalists from IN before being published.
