Brazilian fintech Méliuz (CASH3) has launched a new strategy aimed at expanding its Bitcoin (BTC) reserves by monetizing the asset’s volatility through derivatives. In a regulatory filing published Monday, September 9, the company confirmed it is now selling cash-secured bitcoin put options to boost what it calls ‘Bitcoin Yield’, the incremental return generated from BTC holdings.
The approach involves selling put contracts with predefined strike prices. If Bitcoin trades above the strike price, Méliuz pockets the premium and rolls it into new BTC acquisitions. If it falls below the strike and the contract is exercised, the company will buy bitcoin at the agreed-upon price, still aligned with its long-term accumulation strategy.
“In the event of exercise, the company will use its pre-allocated cash reserves to acquire bitcoin at potentially more attractive prices,” Méliuz stated.
According to the company, the strategy is fully backed by cash, avoiding any financial mismatch risk. Less than 10% of its minimum operating cash is committed as collateral, ensuring that its financial solidity remains unaffected. The operations are being executed with the support of specialized strategic partners, and the results will be reported in Méliuz’s quarterly financial statements.
The initiative allows Méliuz to earn immediate revenue from option premiums while gradually expanding its bitcoin inventory, either by reinvesting the premiums or being assigned new BTC at favorable price levels. The company emphasized the strategy is designed to monetize bitcoin’s volatility while preserving balance sheet strength.
Méliuz is one of Brazil’s first public companies to use bitcoin derivatives to boost both exposure and income. The move marks a shift in how corporate firms approach crypto, blending yield with strategy, and could set the tone for broader adoption across Latin America.
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