Smarter Web raises $13.3M in IPO of MORE, UK's first Bitcoin-backed preferred stock

What's the deal? The Smarter Web CompanyDealroom has a profile for this one. Try Dealroom → has raised $13.25 million through the IPO of MORE, which it describes as the UK's first Bitcoin-backed preferred stock. Shares begin trading on the main market of the London Stock ExchangeDealroom has a profile for this one. Try Dealroom → this Wednesday.

Why now? The listing pairs a traditional preferred-stock structure with Bitcoin exposure, a combination rarely seen on a mainstream exchange. The first weekly dividend is scheduled for November 9.

What's the endgame? By tying the instrument to Bitcoin, Smarter Web is pitching investors a regular income stream alongside crypto exposure, without holding the asset directly.

The signal: A Bitcoin-linked product reaching the London Stock Exchange's main market signals growing acceptance of crypto-backed instruments in regulated public markets.

Read more: cointime.ai

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