Méliuz (B3: CASH3) is a Brazilian fintech and cashback platform that made history as the first publicly traded company in Brazil to formally adopt Bitcoin as a strategic treasury reserve asset. Holding approximately 605 BTC, Méliuz has positioned itself at the forefront of the corporate Bitcoin treasury movement in Latin America. The company is listed on B3, the Brazilian stock exchange, and is headquartered in Belo Horizonte, Minas Gerais.
Company Background
Méliuz was founded in 2011 by Israel Salmen and Ofli Guimaraes as a cashback and shopping rewards platform. The concept was simple: users who made purchases through Méliuz's partner retailers received a percentage of their spending back as cash rewards. The model proved popular in Brazil, and the company grew to serve millions of users, partnering with thousands of online and physical retailers.
Méliuz went public on the B3 exchange in November 2020 under the ticker CASH3, becoming one of several Brazilian tech companies to list during a period of strong capital markets activity. The company expanded its product offerings beyond cashback to include a digital account, credit card, and various financial services, competing in Brazil's rapidly growing fintech sector alongside companies like Nubank and PicPay.
Bitcoin Treasury Strategy
In May 2025, Méliuz made a landmark announcement: its shareholders had approved a proposal to adopt Bitcoin as the company's primary strategic treasury reserve asset. This made Méliuz the first publicly traded company in Brazil to take such a step, following the model established by Strategy and other global Bitcoin treasury companies.
The company's co-founder and chairman, Israel Salmen, was a driving force behind the Bitcoin treasury initiative. Under the approved strategy, Méliuz committed to allocating a significant portion of its cash reserves to Bitcoin and established a framework for ongoing Bitcoin accumulation. By early 2026, the company held approximately 605 BTC, with plans to continue growing its position over time.
The shareholder vote was notable for the strength of its approval, reflecting broad investor support for the Bitcoin treasury approach. Méliuz also announced that it would explore ways to integrate Bitcoin more deeply into its operations, including potentially offering Bitcoin-related products and services to its user base.
Significance
Méliuz's adoption of a Bitcoin treasury strategy is a milestone event for both the Brazilian financial market and the broader Latin American Bitcoin ecosystem. As the first publicly traded company on the B3 exchange to formally designate Bitcoin as its primary treasury reserve, Méliuz opened the door for other Brazilian companies to follow suit. The decision was closely watched by corporate treasurers, institutional investors, and regulators across the region.
The company's move is particularly meaningful in the context of Brazil's macroeconomic history. Decades of inflation, currency crises, and monetary instability have given Brazilians a deep cultural familiarity with the risks of holding depreciating fiat currency. Méliuz's decision to hold Bitcoin rather than Brazilian reais as its primary reserve resonates with a population that has lived through the consequences of unsound monetary policy. The company's pioneering stance positions it as a leader in what may become a broader trend of Brazilian corporate Bitcoin adoption.