Core Insights - DeFi Technologies Inc. has made a strategic investment in Continental Stablecoin Inc. to support the development of local-currency stablecoins in Africa, particularly Nigeria's cNGN stablecoin [1][8][9] - Nigeria leads globally in stablecoin adoption with over 25.9 million users and an 11.9% penetration rate, driven by demand for USD-pegged assets and regulatory advancements [3][8] - The investment aligns with DeFi Technologies' strategy to enable compliant digital asset adoption globally, focusing on trusted stablecoin frameworks that meet the needs of banks, fintechs, and retail users [4][9][10] Investment Overview - The investment in CSI was made through a Simple Agreement for Future Equity (SAFE) alongside other industry leaders like Coinbase Ventures and Adaverse [9][8] - The cNGN stablecoin has approximately 602.9 million tokens in circulation and has processed over 75,000 on-chain transactions, indicating strong early traction [6][9] - DeFi Technologies believes that regulated stablecoins will form the foundational layer for next-generation financial services, enhancing local payment systems and cross-border settlements [9][7] Market Context - Stablecoins are recognized as a significant growth vector in the digital asset ecosystem, particularly in emerging markets where financial access and currency volatility are critical issues [2] - The regulatory landscape in Nigeria is evolving, with the Securities and Exchange Commission recognizing digital assets as securities, which supports the growth of stablecoin infrastructure [3][4] - The cNGN stablecoin aims to provide secure, transparent, and scalable digital payments across Nigeria and beyond, reinforcing Nigeria's leadership in digital finance [5][4]

Core Viewpoint - DeFi Technologies Inc. has filed a base shelf prospectus and a corresponding registration statement to maintain financial flexibility, allowing potential future offerings of various securities over a 25-month period [1][2]. Group 1: Company Overview - DeFi Technologies is a financial technology company that connects traditional capital markets with decentralized finance (DeFi) [5]. - The company is the first Nasdaq-listed digital asset manager, providing equity investors with diversified exposure to the decentralized economy through an integrated business model [5]. - DeFi Technologies operates several subsidiaries, including Valour, Stillman Digital, Reflexivity Research, Neuronomics, and DeFi Alpha, each focusing on different aspects of the digital asset space [5][6][7][8][9]. Group 2: Securities Filing Details - The base shelf prospectus and registration statement were filed with Canadian and U.S. regulatory authorities, allowing the company to offer common shares, debt securities, and other financial instruments [1][2]. - The company currently has no intention to undertake an offering under the base shelf prospectus, and there is no certainty that any securities will be offered during the effective period [2]. - Specific terms and use of proceeds for any future offerings will be detailed in a prospectus supplement [2]. Group 3: Accessibility of Documents - The base shelf prospectus and any future amendments will be accessible in accordance with securities legislation, available on SEDAR+ and the SEC's EDGAR website [4]. - Interested parties can obtain copies of the base shelf prospectus and amendments from the Corporate Secretary of the company [4].

Core Insights - DeFi Technologies, a Canadian cryptocurrency company, has seen its stock price decline by over 37% since the initial coverage, despite Bitcoin's increase of more than 4% during the same period [1] Company Performance - The significant drop in DeFi Technologies' stock price contrasts with the performance of Bitcoin, indicating potential issues within the company or market sentiment affecting its valuation [1]

Core Viewpoint - DeFi Technologies Inc. has launched eight new SEK-denominated exchange-traded products (ETPs) through its subsidiary Valour, expanding its offerings in the Nordic market and meeting growing investor demand for diversified digital asset exposure [1][10][14]. Summary by Category New Product Launch - Valour has introduced eight new ETPs: Shiba Inu (SHIB), Pi (PI), Ondo (ONDO), Cronos (CRO), Mantle (MNT), VeChain (VET), Ethena (ENA), and Celestia (TIA) [10][11]. - Each ETP provides regulated, exchange-traded access to its underlying digital asset via traditional brokerage accounts, with a management fee of 1.9% [2][10]. Product Details - **Valour Shiba Inu (SHIB) ETP**: A community token with an expanding ecosystem [3]. - **Valour Pi (PI) ETP**: The native token of the Pi Network, focused on inclusive crypto access [4]. - **Valour Ondo (ONDO) ETP**: Powers Ondo Finance, focusing on tokenized real-world assets [5]. - **Valour Cronos (CRO) ETP**: The native asset of Cronos, supporting payments and DeFi applications [6]. - **Valour Mantle (MNT) ETP**: Governance token of Mantle, designed for high-throughput applications [7]. - **Valour VeChain (VET) ETP**: Utility token for VeChain, focused on enterprise use cases [8]. - **Valour Ethena (ENA) ETP**: Governance token for Ethena, a synthetic-dollar protocol [9]. - **Valour Celestia (TIA) ETP**: Native token of Celestia, a modular blockchain network [10][12]. Market Position and Strategy - With over 85 ETPs listed across major European exchanges, Valour reinforces its leadership in regulated digital asset investment solutions [10][14]. - The launch aligns with the market's demand for diversified exposure, covering various blockchain layers and emerging themes [13][14]. - Executives emphasize the importance of maintaining institutional standards while expanding product offerings [13][14].

Core Viewpoint - DeFi Technologies Inc. has launched eight new SEK-denominated exchange-traded products (ETPs) through its subsidiary Valour, expanding its offerings in the Nordic market and providing regulated access to various digital assets [1][10]. Summary by Category New Product Launch - Valour has introduced eight new ETPs on Sweden's Spotlight Stock Market, including Valour Shiba Inu (SHIB), Valour Pi (PI), Valour Ondo (ONDO), Valour Cronos (CRO), Valour Mantle (MNT), Valour VeChain (VET), Valour Ethena (ENA), and Valour Celestia (TIA) [1][10]. - Each ETP offers regulated, exchange-traded exposure to its underlying digital asset via traditional brokerage accounts, with a management fee of 1.9% [2]. Product Details - Valour Shiba Inu (SHIB) is a community token with an expanding ecosystem [3]. - Valour Pi (PI) is the native token of the Pi Network, aimed at inclusive crypto access [4]. - Valour Ondo (ONDO) focuses on tokenized real-world assets and on-chain yield distribution [5]. - Valour Cronos (CRO) supports payments, DeFi, and consumer applications on an EVM-compatible blockchain [6]. - Valour Mantle (MNT) serves as the governance token for a high-throughput Ethereum Layer-2 ecosystem [7]. - Valour VeChain (VET) targets enterprise use cases like supply-chain visibility [8]. - Valour Ethena (ENA) is a governance token for a synthetic-dollar and yield infrastructure protocol [9]. - Valour Celestia (TIA) is the native token of a modular blockchain network providing data-availability layers [10]. Market Position and Strategy - With over 85 ETPs listed across major European exchanges, Valour is reinforcing its leadership in regulated digital-asset investment solutions [10][14]. - The new listings cater to growing investor demand for diversified digital-asset exposure, covering various blockchain layers and real-world asset infrastructures [10][13]. - Executives from Valour emphasize the importance of providing simple and transparent access to a wider range of digital assets, aligning with market demand [13][14].

Core Insights - DeFi Technologies Inc. has launched a DeFi Advisory division to support digital asset and fintech companies, securing its second mandate with TenX Protocols Inc. [1][6] - The partnership with TenX includes advisory services and exclusive digital asset trading through Stillman Digital, enhancing DeFi Technologies' integrated platform strategy [2][4] Company Developments - DeFi Technologies has been appointed as Strategic Advisor to TenX under an Advisory Agreement, while Stillman Digital will provide exclusive digital asset trading services [2][3] - TenX recently completed a C$29.9 million private placement and is pursuing a reverse-takeover transaction with Iocaste Ventures for public listing [2][6] Financial Terms - Under the Advisory Agreement, DeFi Technologies will receive an initial $600,000 in advisory fees, with potential performance-based incentives tied to strategic transactions [4][6] - The OTC Agreement is expected to significantly increase trading volume through Stillman Digital, contributing to the company's return profile [4][6] Strategic Positioning - The DeFi Advisory division aims to capitalize on the growing trend of public digital asset treasury companies, providing comprehensive support including digital asset management and market intelligence [5][6] - DeFi Technologies combines its subsidiaries' strengths—Stillman Digital for trading and Reflexivity Research for market intelligence—creating a vertically integrated platform for digital asset treasury strategies [6][7]

Core Viewpoint - DeFi Technologies Inc. intends to initiate a Normal Course Issuer Bid (NCIB) to repurchase its common shares, believing that the current market price does not reflect the underlying value of the company [1][2]. Group 1: NCIB Details - The NCIB will commence on August 26, 2025, and run through August 26, 2026, or until completed earlier [3]. - The company may purchase up to 10% of the public float, which amounts to 31,673,791 common shares, and all purchased shares will be canceled [4]. - Daily purchases under the NCIB cannot exceed 25% of the average daily trading volume on Nasdaq and Cboe Canada from February 18, 2025, to August 18, 2025 [4]. Group 2: Financial Position - The current cash balance of the company is approximately US$19.8 million, which management considers sufficient for the share repurchase [2]. Group 3: Company Overview - DeFi Technologies is a financial technology company that connects traditional capital markets with decentralized finance (DeFi) [5]. - The company operates as the first Nasdaq-listed digital asset manager, providing diversified exposure to the decentralized economy through various subsidiaries [5]. - Key subsidiaries include Valour, which offers access to digital assets via regulated ETPs, and Stillman Digital, a digital asset prime brokerage [6][7].

Core Insights - DeFi Technologies' subsidiary Valour Inc. has successfully listed two staking ETPs on the SIX Swiss Exchange, marking its entry into the Swiss market [1][2][6] - The listed products include 1Valour Hedera (HBAR) Physical Staking and 1Valour Internet Computer (ICP) Physical Staking, which provide investors with exposure to digital assets while integrating staking rewards [2][4][5] - Valour aims to expand its offerings to 100 ETPs by the end of 2025, currently having over 75 ETPs across various European exchanges [6] Company Overview - DeFi Technologies is a financial technology company that connects traditional capital markets with decentralized finance, offering diversified exposure to digital assets through regulated ETPs [1][7] - Valour, as part of DeFi Technologies, focuses on providing retail and institutional investors with simple and secure access to digital assets via traditional bank accounts [8] Product Details - The 1Valour Hedera (HBAR) Physical Staking ETP is backed by HBAR, the native token of the Hedera network, and includes staking rewards reflected in its net asset value [4] - The 1Valour Internet Computer (ICP) Physical Staking ETP offers passive exposure to ICP while integrating native staking yield into its structure [5] Market Position - Valour's debut on the SIX Swiss Exchange highlights the strong demand for transparent, yield-generating digital asset products from both institutional and retail investors [3] - The company emphasizes the importance of compliance and simplicity in accessing digital asset yields without the need for investors to manage wallets or custody [3]

Core Viewpoint - DeFi Technologies Inc. is launching the DeFi Technologies Insights Symposium to facilitate discussions on the convergence of decentralized finance (DeFi) and traditional finance (TradFi) [1][2][4] Group 1: Symposium Overview - The DeFi Technologies Insights Symposium is a global initiative aimed at fostering high-level discussions about the future of finance, with the inaugural session scheduled for September 25, 2025, in Frankfurt, Germany [1][2] - The symposium will gather institutional investors, regulators, technologists, and thought leaders to explore the integration of DeFi and TradFi across various markets and regulatory frameworks [2][4] - Future sessions of the symposium are planned in major financial centers including Abu Dhabi, Hong Kong, São Paulo, London, New York, and Zurich, focusing on regional dynamics while maintaining a global perspective [5] Group 2: Audience and Content - The inaugural session will feature a curated, invite-only audience of institutional stakeholders such as sovereign wealth funds, central banks, and asset managers [6] - Attendees can expect keynotes, private roundtables, and strategic panels covering topics like regulatory pathways for DeFi integration, institutional access to on-chain yield, and the implications of quantum computing on digital asset infrastructure [7][6] Group 3: Company Mission and Ecosystem - DeFi Technologies aims to bridge traditional capital markets with the emerging digital asset economy, positioning itself as a key platform in the transition towards a more integrated financial landscape [4][9] - The symposium is part of the company's broader strategic initiative to align its ecosystem with the evolving demands of institutional capital and public market participants [9]

Financial Data and Key Metrics Changes - The company reported adjusted revenues of USD 32.1 million, adjusted EBITDA of USD 21.6 million, and adjusted net income of USD 17.4 million for Q2 2025 [4][5]. - Average AUM decreased to USD 748 million from USD 780 million in Q1 due to negative cryptocurrency price movements [16]. - Q2 IFRS revenue was USD 13.4 million, leading to a cumulative revenue of USD 57.1 million for the first half of the year, which was below the guidance of USD 62.5 million, resulting in a shortfall of USD 5.5 million or 8.7% [17]. Business Line Data and Key Metrics Changes - Valor, the largest business unit, reported net inflows of USD 77.4 million year-to-date, with AUM ending Q2 at USD 772.8 million and reaching USD 947 million by July 31 [5][6]. - Stoneman Digital generated USD 1.9 million in revenue for Q2, focusing on market making and liquidity for stablecoins [7]. - DeFi Alpha executed a trade in May with returns of USD 17.3 million, maintaining a zero-loss track record since inception [8]. Market Data and Key Metrics Changes - The company experienced strong cash inflows into ETPs, with positive Q2 inflows of USD 27 million [16]. - The effective realized staking income was 3.6% on the average AUM of USD 748 million, with staking revenue declining due to lower on-chain activity and average prices of key assets [19]. - The effective management fee yield during Q2 was 1.1%, down from 1.3% in Q1, primarily due to the performance of Bitcoin and Ethereum [20]. Company Strategy and Development Direction - The company aims to expand its product offerings, targeting 100 listed products by year-end and entering new markets in Africa, Asia, and the Middle East [12][14]. - The strategic focus includes building a comprehensive portfolio of digital asset ETPs and developing hybrid products that combine digital and traditional assets [56][57]. - The company is also exploring opportunities in the DeFi advisory space, leveraging its expertise to assist public companies in managing digital asset treasury strategies [66]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential, stating that the company is still early in its growth story and that the flywheel effect of its subsidiaries is reinforcing each other [5][14]. - The company raised its 2025 annualized operating revenue guidance to USD 218 million, citing a stronger market position and higher expected yields from its asset composition [11][34]. - Management acknowledged the challenges posed by market conditions in Q2 but indicated a positive outlook for the second half of the year, driven by improved asset performance [24][76]. Other Important Information - The company ended Q2 with USD 26.4 million in cash and USD 26 million in digital assets, maintaining a strong balance sheet [11][21]. - The company is in the process of renewing its share buyback program, having repurchased 675,900 shares during Q2 [22]. - An investigation into share discrepancies was initiated at the request of shareholders, with initial reports raising flags about unpaired shares on specific trading days [80][81]. Q&A Session Summary Question: Can you help us bridge the guidance of USD 218 million? - The guidance was adjusted due to a change in portfolio composition, which improved the monetization rate for the rest of the year [34][35]. Question: What is the six-month USD revenue number? - The revenue for the first six months is estimated to be around USD 12-13 million in staking and USD 4.5 million in management fees, with the rest coming from trading activity [36][37]. Question: What are the roadblocks to expanding into Africa, Asia, and the Middle East? - The expansion is more about finalizing regulatory details rather than facing significant roadblocks, with strong demand for products in these regions [48][50]. Question: Can you provide more color on the DeFi Alpha business? - Management is optimistic about executing trades in the pipeline, with a target of completing around 65% of them this year [75][78]. Question: What is the company's stance on the Canadian listing and potential redomiciling to the US? - The company is exploring options regarding its Canadian listing but faces potential tax implications if it were to redomicile to the US [84][88].