Smarter Web Company Wins Shareholder Approval for UK's First Bitcoin-Backed Preferred Shares
Smarter Web Company shareholders approved resolutions to issue MORE perpetual preferred shares backed by Bitcoin holdings, clearing a major hurdle toward a potential London Stock Exchange listing. The move would mark the first such instrument in the UK to directly link equity issuance to cryptocurrency collateral.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
Shareholder Approval and Next Steps
Shareholder votes at Smarter Web Company have cleared the resolutions required to issue its proposed MORE perpetual preferred shares, according to filings by the company. The approval removes a key condition for a potential listing on the London Stock Exchange Main Market, though the company has not confirmed a listing date or timeline.
Structure and Market Implications
The MORE shares will be backed by Bitcoin holdings, making them the first preferred equity instrument of this type in the UK market. Perpetual preferred shares typically carry a fixed dividend and no maturity date, distinguishing them from traditional bonds or equity. By anchoring the offering to Bitcoin reserves, the structure combines traditional finance mechanics with cryptocurrency-collateralized assets, a move that could influence how UK institutional investors approach digital-asset-linked securities.
Regulatory and Precedent Questions
The transaction remains subject to LSE approval and regulatory clearance. If completed, it would establish a precedent for integrating cryptocurrency directly into UK equity markets, potentially influencing future investment structures that blend traditional preferred stock mechanics with on-chain collateral.
Why It Matters
For Traders
A successful LSE listing of a Bitcoin-backed preferred instrument would create a new regulatory-approved venue for digital-asset exposure within traditional equity markets.
For Investors
UK regulatory acceptance of cryptocurrency-collateralized preferred shares could signal broader institutional openness to hybrid digital-asset products and may attract similar issuances.
For Builders
A successful precedent here may encourage protocol teams and crypto-native firms to explore structured equity products pegged to on-chain collateral on regulated exchanges.
This article is for information only and is not financial advice. Read the full disclaimer.
