Brazilian Company Méliuz Buys $28.4 Million Bitcoin With Shareholders' Overwhelming Approval, Becomes First Bitcoin Treasury Company

Brazilian publicly listed company Méliuz has become the first Bitcoin treasury company in Brazil after acquiring $28.4 million worth of Bitcoin.

Publicly listed Brazilian company Méliuz has become the first Bitcoin treasury company in Brazil after buying $28.4 million in BTC, becoming the first company in Brazil to hold a portion of its treasury in Bitcoin. The move to adopt a Bitcoin treasury strategy was approved by the company's shareholders with an overwhelming majority. This development signifies a step forward in Brazil's corporate adoption of cryptocurrency as a treasury asset.

Despite the recent downturn in the crypto market, with Bitcoin currently trading below the $50k mark, Méliuz has decided to invest a significant portion of its assets in the world's leading cryptocurrency. The company's strategy to allocate a portion of its treasury to Bitcoin aims to generate returns and diversify its investments.

This development showcases the increasing interest of Brazilian companies in exploring cryptocurrency options for treasury management. As institutions worldwide are making strides in integrating digital assets into their portfolios, this move by Méliuz could inspire further treasury-level adoption of cryptocurrencies in Brazil's corporate landscape.

This article is generated by AI and reviewed by humans on DeepChain.arris Inc. (NASDAQ:ARR) stock price rose in mid-morning trading on Wednesday after the company announced a new partnership with Payroc LLC.

Paysafe (NYSE:PAY) stock price slid in mid-morning trading on Wednesday after the company announced that it would be selling its PayTogether installment lending product to Clearpay.

Ishares Inc. (IVV) stock price slid in mid-morning trading on Wednesday after the company reported mixed fourth-quarter earnings.

What Happened

Arris Inc. (NASDAQ:ARR) announced a partnership with Payroc LLC, a leading bankcard and technology solutions provider, to seamlessly integrate Payroc's advanced payroll card program into Arris's industry-leading employee benefits platform.

Paysafe (NYSE:PAY) said it would be selling its PayTogether installment lending product to Clearpay, a leading buy now, pay later provider, in a move to streamline its offerings and capitalize on emerging opportunities within its core markets.

Ishares Inc. (NYSE:IVV) reported fourth-quarter net income of $2.07 billion, compared with $2.34 billion in the year-ago period. Operating revenue for the quarter came in at $2.17 billion, down from $2.24 billion in the fourth quarter of 2022. Economically sensitive sectors, such as consumer discretionary and industrials, experienced outsized year-over-year declines in revenue.

This Is An Emerging Tech Company Focused On Autonomous Drone Tech For A Living Lab

Unraveling the complexities of the startup ecosystem, TechNode is covering the ins and outs of emerging technologies in China. In this installment, we spotlight an autonomous drone technology company that is building a "living lab" to showcase its innovations.

Founded in 2015, Hang An Tech is a startup focused on developing autonomous drone technology and solutions. The company has a "living lab" in Shangyuan, a town in Anhui province, southeast China, where it deploys its drones for various use cases, collecting data and optimizing its algorithms in real-world scenarios.

The startup's drones are used in tasks such as spraying crops, delivering packages, and aerial surveying. Hang An Tech is also exploring the potential of drones for environmental monitoring, disaster relief, and aerial photography.

As the company continues to develop its technology and expand its operations, it is aiming to become a leading provider of autonomous drone solutions in China.

The startup's efforts are part of a broader trend in China, where there is growing interest in developing and applying new technologies to solve socioeconomic problems and promote economic development.

The startup is tackling the technical challenges of autonomous drone navigation, object detection and tracking, and integration with existing systems.

Hang An Tech is also navigating the regulatory landscape for drone operations and the legal implications of deploying autonomous systems.

The startup's success will depend on its ability to develop robust and reliable autonomous drone technology that meets the specific needs of its customers and complies with relevant regulations.

The startup's "living lab" approach enables it to rapidly iterate on its technology and algorithms in response to real-world feedback, which is crucial for developing autonomous systems that can perform reliably in complex and dynamic environments.

This commentary is written based on reporting by TechNode and does not necessarily reflect the views of the company.

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