Locate Technologies debuts on NZX with Bitcoin-led treasury shift
Locate Technologies has completed its shift from the Australian Securities Exchange to the New Zealand Exchange, becoming the first publicly listed company in New Zealand to designate Bitcoin as its primary treasury reserve asset.
Market transition
The company, which provides logistics management software, moved its listing to the NZX using a structure that transfers all shares into a New Zealand entity. Existing operations and management remain unchanged. The move follows challenges integrating its business with the ASX, prompting Locate Technologies to seek an alternative listing venue.
Steve Orenstein, Chief Executive of Locate Technologies, said the company found a more receptive environment in New Zealand. "We hit a roadblock with the ASX, but that didn't slow us down. The NZX immediately understood what we're building and the scale of the opportunity. Listing in New Zealand allows us to keep moving fast and gives investors a clear pathway to be part of our growth story," said Orenstein.
Bitcoin treasury approach
The decision to pivot to Bitcoin was described as a means to shield shareholder value and manage currency risks. The company has already begun purchasing Bitcoin for its reserves and plans to further increase holdings as part of its capital strategy.
"Bitcoin is the world's most durable monetary network. Aligning our balance sheet with this standard is not about speculation - it is about resilience, discipline and long-term value creation," said Steve Orenstein, Chief Executive, Locate Technologies.
Locate Technologies said it may use its Bitcoin-backed balance sheet to underpin various financial products, including credit, debt offerings, and other investment instruments within New Zealand's debt market. The strategy is aligned with examples seen overseas, where some businesses have pursued a similar approach to treasury management.
"This demonstrates the potential for treasury strategies to amplify returns for investors through the creation of financial products backed by digital assets," said Orenstein.
Board changes
The company has appointed Janine Grainger, co-founder of Easy Crypto, to its Board. Grainger has joined to support innovation and product strategy as Locate Technologies expands in the New Zealand market. She said improved regulatory environments globally for digital assets support the company's timing and approach. "Around the world, regulators are shaping clearer frameworks, which is helping to propel adoption and legitimacy forward. It makes sense to give Kiwis the choice to invest in a local option rather than an overseas one, particularly when the NZX can provide that access in a regulated and trusted way," said Grainger.
Investor opportunity
With its Bitcoin-first treasury model, the company said its focus will remain on balancing financial initiatives with prudent corporate governance. Orenstein said combining digital asset strategies with regulated capital markets has the potential to deliver value to shareholders and position New Zealand as a more active market for digital financial products.
"This is a milestone not just for Locate Technologies, but for the NZX and for investors who want safe, regulated exposure to digital assets. By anchoring our strategy in Bitcoin and combining it with disciplined governance, we are confident we can deliver enduring value and position New Zealand at the forefront of this global financial shift," Orenstein concluded.
