The stock market-listed Brazilian payments firm Méliuz has unveiled plans to spend around $26.5 million on Bitcoin (BTC) purchases.

The Brazilian media outlet Livecoins reported that the company will raise funds to buy more Bitcoin as part of its newly established treasury strategy.

Earlier this month, Méliuz became Brazil’s first stock market-listed BTC treasury company, spending almost $28.5 million to buy BTC 274.52.$BTC