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With an increase of 11.3 billion yen in capital, Merius Co. in Brazil is set to purchase additional Bitcoin.
Brazilian fintech company Merius (B3 Exchange: CASH3) announced on May 30 a capital increase plan of up to 11.3 billion yen. The company aims to raise funds through the issuance of new shares to purchase additional cryptocurrency Bitcoin (BTC).
Meriyuzu currently holds 320.25 BTC. In this public offering, it plans to issue 17,006,803 shares of common stock for institutional investors.
The company has applied for a primary registration for over-the-counter markets with the Brazilian Securities and Exchange Commission (CVM). In addition to purchasing shares, investors are expected to receive 50,682,67 free warrant bonds.
Through this funding, Merius plans to expand its cryptocurrency portfolio.
The company has been adopting Bitcoin as a financial asset since March of this year.