According to Coindesk, Brazilian fintech firm Méliuz (CASH3) has pivoted to a bitcoin treasury strategy to escape negative returns from holding government bonds. The company, which is profitable and debt-free, found that its cash reserves in government bonds were losing value due to high taxes and inflation. At the Blockchain Conference Brasil 2025, Diego Kolling, Head of Bitcoin Strategy at Méliuz, explained that the firm is using yield-generating strategies, including derivatives and cash-secured puts, to fund BTC purchases. The company keeps 80% of its bitcoin in cold storage and aims to maintain a hard cap of 20% of holdings in yield-generating strategies.
Brazilian Fintech Méliuz Shifts to Bitcoin to Escape Negative Treasury Returns
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