DEFI TECHNOLOGIES AND VALOUR MARK STRATEGIC ENTRY INTO BRAZIL WITH BELL-RINGING CEREMONY AT B3 EXCHANGE
Defi Technologies Inc. has successfully launched Brazilian depositary receipts (BDRs) representing its Nasdaq-listed common shares, together with five digital-asset exchange-traded products (ETPs) issued by its subsidiary, Valour Inc. and Valour Digital Securities Ltd., on B3 SA — Brasil, Bolsa and Balcao (the B3 exchange).
The listings were formally celebrated with a bell-ringing ceremony at market close on the B3 exchange in Sao Paulo, Brazil, on Friday, Dec. 19, 2025, marking a significant milestone in Defi Technologies’ and Valour’s international expansion strategy.
Defi Technologies’ BDRs and Valour’s ETPs now trading on B3 are:
* DEFT31 — BDRs representing Defi Technologies’ Nasdaq-listed DEFT shares;
* BTCV — Valour Bitcoin;
* ETHV — Valour Ethereum;
* XRPV — Valour XRP;
* VSOL — Valour Solana;
* VSUI — Valour Sui.
The products provide Brazilian investors with Brazilian-real-denominated, locally listed exposure to both Defi Technologies’ equity and leading digital assets through the same brokerage and custody infrastructure used for equities and ETFs (exchange-traded funds).
Strategic entry into a key global market
Brazil is the world’s seventh-most populous country, with approximately 213 million people, the most populous nation in South America and the second-most populous in the Americas after the United States. With a unified language, regulatory framework and capital markets infrastructure, Brazil represents a core pillar of Defi Technologies’ and Valour’s global expansion strategy.
As Latin America’s largest crypto economy with an increasingly mature regulatory environment for digital assets and market intermediaries, Brazil provides a strong foundation for expanding institutional-grade, exchange-traded access to digital assets. With the launch of DEFT31 and Valour’s ETPs on B3, Brazilian investors can now access regulated crypto exposure through familiar, local rails.
For Valour, which already offers more than 100 digital-asset ETPs listed across major European exchanges, the B3 listings represent its first move outside Europe and establish a scalable platform for further growth across Latin America and other high-growth markets.
Management commentary
“Ringing the bell at B3 to celebrate the launch of DEFT31 and Valour’s ETPs was an important milestone for our entire organization,” said Johan Wattenstrom, chief executive officer and executive chairman of Defi Technologies and co-founder of Valour. “Brazil is a strategically important market for us. With these listings on the B3 exchange, we are one step closer to our goal of making regulated, exchange-traded digital-asset exposure available to investors in the world’s most significant financial centres.”
“This launch is our first step outside Europe for Valour and a template for our broader global expansion,” said Andrew Forson, president of Defi Technologies and chief growth officer of Valour. “By offering Brazilian investors BRL-denominated, locally listed access to bitcoin, ether, XRP, Solana and Sui ETPs, alongside BDRs in Defi Technologies, we are aligning product access and corporate access in a single market. We are grateful to our partners in Brazil and to the teams across Defi Technologies and Valour whose execution made this launch possible.
“We would like to thank B3 Exchange, Cepeda Advogados and BTG Pactual for their partnership and support in bringing this initiative to market as well as the teams across Defi Technologies and Valour, whose commitment and hard work made this launch a reality,” added Mr. Forson.
About Defi Technologies Inc.
Defi Technologies is a financial technology company bridging the gap between traditional capital markets and decentralized finance (defi). As the first Nasdaq-listed digital asset manager of its kind, Defi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to 100 of the world’s most innovative digital assets through regulated ETPs (exchange-traded products); Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research LLC, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and Defi Alpha, the company’s internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, Defi Technologies is building the institutional gateway to the future of finance.
Defi Technologies subsidiaries
About Valour Inc.
Valour and Valour Digital Securities Ltd. issue exchange-traded products (ETPs) that enable retail and institutional investors to access digital assets in a simple and secure way through their traditional bank accounts. Valour is part of the asset management business line of Defi Technologies.
About Stillman Digital
Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement and technology.
About Reflexivity Research LLC
Reflexivity Research is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights.
