Last-mile logistics software company Locate Technologies has listed on the New Zealand Exchange, becoming the first NZX-listed business to adopt Bitcoin as its primary treasury reserve asset.
The company, known for its Locate2u platform used by businesses to manage deliveries with greater speed and visibility, has shifted its listing from the ASX to the NZX through a corporate restructure that retains its existing operations and strategy.
The last-mile logistics software innovator has evolved into a global tech provider since its founding in 2014, with its flagship SaaS platform supporting businesses of all sizes to optimise delivery operations.
Chief executive Steve Orenstein says adopting Bitcoin as the company’s long-term treasury reserve asset is designed to strengthen the firm’s balance sheet.
“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,” Orenstein says.
The company transitioned from the ASX to the NZX via a “top-hat” arrangement that transfers all shares into a New Zealand entity without altering its management or commercial structure.
Orenstein says the move allows greater flexibility in execution.
“This move removed restrictions and delays, allowing us to execute at speed. After engaging with exchanges globally, it was clear the NZX is forward-thinking and aligned with our vision. We are proud to call New Zealand our new listed home,” he says.
Bitcoin-backed investment
Locate Technologies has already executed significant Bitcoin purchases and plans to continue building holdings in line with its capital allocation framework.
Its strategy may enable the company to deploy capital backed by Bitcoin, including potential development of Bitcoin-linked credit or debt products in the New Zealand market.
The company cites global examples such as MicroStrategy, one of the world’s largest corporate Bitcoin holders, as evidence of the model’s potential.
“This demonstrates the potential for treasury strategies to amplify returns for investors through the creation of financial products backed by digital assets,” Orenstein says.
Growing digital-asset capability
Locate Technologies recently appointed Janine Grainger, co-founder of Easy Crypto, to its board to help shape digital-asset strategy and product innovation.
Grainger says the listing comes at a time of growing regulatory clarity internationally.
“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.”
Orenstein says the move positions New Zealand to participate more directly in the global digital-asset economy.
“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.”
