Meliuz Shares Slide as Brazilian Fintech Moves to Raise $32.4M for Bitcoin Holdings

Brazilian fintech Meliuz (CASH3) is doubling down on its crypto ambitions, announcing plans to raise R$180.08 million (approximately $32.4 million) via a discounted equity offering aimed at acquiring bitcoin for its corporate treasury.

According to a regulatory filing, the share issuance is priced at R$7.06 ($1.27), representing a roughly 5% discount to Thursday’s close of R$7.43. Meliuz stock dropped over 5% in Friday trading following the announcement.

The capital raise is part of the company’s broader pivot toward digital assets. Earlier this year, Meliuz unveiled a bold strategy to position itself as Brazil’s first publicly listed firm with a bitcoin treasury model, targeting up to $78 million in total equity raises.

BTG Pactual is acting as the sole book-runner for the offering, according to the filing.

Founded as a cashback and rewards platform, Meliuz has evolved into one of Brazil’s fastest-growing fintech apps. The company reported over 41 million registered users in Q1 2025 and currently holds a market capitalization of R$647.08 million ($116.5 million), based on TradingView data.

By integrating bitcoin into its balance sheet, Meliuz joins a growing number of global firms adopting digital assets as a long-term strategic reserve — a trend accelerated by regulatory shifts and institutional adoption of crypto in Latin America.