DeFi Technologies Secures Key Listing Approval in Brazil

DeFi Technologies CA24464X1069

In a significant move for its international growth strategy, DeFi Technologies has achieved a major milestone. The company's subsidiary, Valour Inc., has received regulatory approval to list four of its digital asset exchange-traded products (ETPs) on Brazil's B3 Exchange. This marks the firm's first operational foray outside the European market, providing access to Latin America's largest cryptocurrency economy.

This strategic push into a new geographic region follows a substantial capital infusion. DeFi Technologies recently completed a direct placement of $100 million, led by Galaxy Digital, with shares priced at $2.19 each. The financing round has provided the necessary resources to accelerate its global expansion plans.

Concurrent with this fundraising, the company implemented a change in its executive leadership. Co-founder Johan Wattenström assumed the role of Chief Executive Officer, succeeding Olivier Roussy Newton, who transitioned to a strategic advisory position.

Launch Details and Market Potential

Trading for the new products is scheduled to commence on December 17. The listings will include the Valour Bitcoin (BTCV), Valour Ethereum (ETHV), Valour XRP (XRPV), and Valour SUI (VSUI) ETPs. These will be traded in Brazilian Real (BRL) through Brazilian Depositary Receipts (BDRs), allowing local investors to gain exposure to digital assets directly through their existing brokerage accounts without the technical complexities of direct ownership.

The Brazilian market represents a substantial opportunity. The country holds fifth place globally for cryptocurrency adoption and accounts for approximately one-third of all crypto activity in Latin America. Industry estimates suggest the market facilitated around $319 billion in transactions between mid-2024 and mid-2025.

CEO Johan Wattenström highlighted the importance of entering one of the world's fastest-growing digital asset markets.

Competitive Landscape and Regulatory Advantage

This expansion places DeFi Technologies in direct competition with both local and international asset managers in a burgeoning region. While Valour has established a dominant presence in the Nordic and European ETP spaces with over 100 listed products, the Brazilian market opens a new front for growth.

The company may benefit from a clear regulatory environment in Brazil, established by the Virtual Assets Act, which provides a stable framework for institutional investment products. This regulatory clarity could offer an advantage over more fragmented legal landscapes in other jurisdictions, particularly for providing diverse altcoin exposures such as SUI and XRP.

The success of the December launch will be closely watched. A positive reception from Brazilian investors could pave the way for the company's further geographic expansion into markets in the Middle East and Asia.