DeFi Technologies Sets Sights on Nasdaq: A Game-Changer for Crypto Investors

DeFi Technologies Aims for Nasdaq Listing

A high-performance Canadian crypto stock, DeFi Technologies, is preparing for a U.S. stock market listing, potentially attracting a new wave of investors. Currently trading under the DEFI ticker on Cboe Canada and DEFTF over OTC markets, the company has recently filed a Form 40-F registration statement with the SEC to list on Nasdaq.

“The listing of the company's common shares on the Nasdaq remains subject to the approval of the Nasdaq and the satisfaction of all applicable listing and regulatory requirements.”

This process, known as “uplisting,” allows companies to move from lower liquidity markets to major stock exchanges, presenting significant growth opportunities. However, it comes with challenges, including meeting size, market share, and financial viability criteria.

Stellar Performance in 2023

DeFi Technologies has seen a 275% increase in stock value year-to-date, with profits soaring. As of July, the company generated $105 million in profit, while its market cap stood at $429 million. Analysts, including Will Clemente from Reflexivity Research, suggest that DeFi Technologies is largely “misunderstood” and “undervalued” compared to the average S&P 500 company.

After announcing its Q2 earnings, the stock rebounded above USD $2 per share, outperforming many blockchain stocks during a crypto market lull. The profits have been largely driven by its subsidiary, Valour, which offers crypto investment products in Europe, and DeFi Alpha, which focuses on low-risk arbitrage trades.

Bitcoin and Crypto Holdings

In June, DeFi Technologies confirmed it holds Bitcoin on its balance sheet and subsequently doubled its BTC holdings in July. The company has also added Solana and CORE to its treasury, showcasing its commitment to diversifying its crypto assets.

Edited by Andrew Hayward