How Brazil's Méliuz Used Bitcoin to Break Free from Treasury Woes

Brazil's corporate adoption surged in 2025, with firms like Méliuz leading the charge. This trend reflects growing recognition of cryptocurrency as a hedge against inflation. Méliuz's pivot offers insights into navigating fiscal challenges.

Méliuz's Business Foundations

Méliuz operates as a leading cashback platform in Brazil's fintech sector. It serves over 30 million users with digital banking and savings tools.

The company went public in 2020, focusing on market expansion and funding growth. Its core model leverages technology for seamless consumer experiences.

Despite steady profits, Méliuz faced valuation issues by late 2024. Excluding cash reserves, its enterprise value stood at zero.

The Treasury Trap Exposed

High inflation and taxes eroded returns on government bonds. Real yields turned negative, trapping treasuries in value loss.

According to Diego Kolling, Méliuz's Head of bitcoin Strategy, excluding cash left the company worth nothing. This revelation spurred a strategic rethink.

Brazil's 22% interest rates compounded the issue for cefi entities. Firms sought alternatives to preserve capital.

Pivoting to adoption

In March 2025, Méliuz's board approved allocating up to 10% of cash to . This marked an early step in corporate adoption.

The firm acquired 45.72 BTC initially, valuing security in storage practices. It kept 80% in cold wallets to mitigate risks.

Shareholders approved the full bitcoin treasury shift in May 2025 with 66% support. This transformed Méliuz into Brazil's first such company.

Inspired by Metaplanet's model, Méliuz used derivatives for yield generation. This approach boosted BTC holdings without excessive dilution.

Funding and Expansion Efforts

Méliuz raised $32.4 million via a share offering in June 2025. Funds directly fueled bitcoin purchases, enhancing treasury reserves.

By mid-2025, holdings reached 320 BTC, worth over $33 million. Subsequent buys pushed totals higher through operational cash.

Israel Salmen, Méliuz Chairman, noted the strategy maximizes bitcoin per share. This aligns with funding goals in volatile markets.

The firm formed a bitcoin Strategic Committee for ongoing oversight. It studies regulation and technology integrations.

Security and Regulatory Considerations

Méliuz prioritizes security with cold storage and risk management. This addresses concerns in defi and web3 spaces.

Brazil's central bank tightened VASP rules in 2025, impacting . Yet, no mandates require BTC in sovereign reserves.

Corporate strategies like Méliuz's navigate these regulations effectively. They balance innovation with compliance demands.

Analysts from CoinDesk highlight bitcoin as an escape from fiat devaluation. This view supports broader trends.

Implications for Web3 and Beyond

Méliuz's move signals rising adoption in Latin America. It influences cefi and defi sectors amid economic shifts.

While not tied to metaverse or NFTs directly, the strategy uses blockchain technology. This fosters innovation in financial tools.

Public companies now view bitcoin as a store of value. This counters traditional treasury pitfalls in high-inflation regions.

According to BitcoinTreasuries.NET, Méliuz leads Latin American holders. Its yield ranks high among global peers.

Lessons for Global Markets

This case underscores bitcoin's role in funding and resilience. Firms can adopt similar strategies for value preservation.

Regulation remains key, as Brazil's framework evolves. Monitoring these changes aids strategic planning.

Méliuz's journey from valuation zero to treasury leader demonstrates adaptive finance. It provides a blueprint for escaping economic traps through cryptocurrency integration.

This evolution ties directly to themes of adoption and technology in volatile markets. It emphasizes strategic shifts for long-term sustainability.