Defi to list Brazilian depository receipts

Executive Summary

• Defi Technologies Inc. has received approval from the B3 Exchange to list Brazilian Depositary Receipts (BDRs) representing its common shares, designated under the ticker DEFT31.
• The BDRs are expected to begin trading on December 17, 2025, providing Brazilian institutional investors with local, Brazilian-real-denominated exposure to the company without requiring direct international transactions.
• This listing complements the simultaneous approval of four digital asset Exchange Traded Products (ETPs) by Defi Technologies' subsidiary, Valour, on the B3 Exchange, reinforcing the company's international expansion strategy in Latin America's largest financial market.

Key Details

• Listing Instrument: Brazilian Depositary Receipts (BDRs) representing Defi Technologies Inc. common shares.
• Ticker Symbol: DEFT31.
• Exchange: B3 S.A. -- Brasil, Bolsa, Balcao.
• Target Audience: Institutional investors in Brazil.
• Trading Start Date: December 17, 2025.
• Launch Event: A market close event is scheduled for December 19, 2025, at B3.
• Settlement Structure: Brazilian-real-denominated, locally traded, and settled via existing Brazilian brokerage and custody rails.
• Underlying Shares: Defi Technologies common shares continue to trade on Nasdaq (DEFT), Cboe Canada (DEFI), and the Frankfurt Stock Exchange (R9B).
• Related Subsidiary Activity: The announcement follows B3 approval for Valour (a wholly owned subsidiary) to list four digital asset ETPs: Valour Bitcoin (BTCV), Valour Ethereum (ETHV), Valour XRP (XRPV), and Valour SUI (VSUI), also starting December 17, 2025.
• Strategic Rationale: To broaden access for Brazilian institutional investors restricted from direct foreign equity investments, increase visibility in Brazil's sophisticated capital markets, and align corporate access with the region's rapid digital asset adoption.
• Market Context: Brazil is identified as Latin America's largest and most cohesive financial market, with an estimated $318.8–$319 billion in crypto value received between July 2024 and June 2025, ranking fifth globally on the 2025 Global Crypto Adoption Index.

Notable Quotes

• "Launching the DEFT31 BDRs on B3 is an important next step in our international capital markets strategy... By listing BDRs in Sao Paulo, we are giving Brazilian institutional investors a straightforward, locally traded way to participate in Defi Technologies' growth as we continue to build regulated access to digital assets globally." — Johan Wattenstrom, CEO and Executive Chairman
• "The DEFT31 BDR program is designed to meet that demand at the corporate level. For institutions that already use B3 as their primary venue, DEFT31 provides a familiar structure, local settlement and governance standards they know, while delivering exposure to a company focused on bridging traditional markets and decentralized finance." — Andrew Forson, President