The Smarter Web Company plans UK’s first BTC-backed preferred stock

A web design company from Bristol just filed what could become the UK’s first pounds-sterling-denominated preferred stock backed by a Bitcoin treasury. The Smarter Web Company PLC announced plans to IPO a new class of preferred shares under the ticker ‘MORE’ on the London Stock Exchange Main Market, targeting gross proceeds of £15 to £25 million. The minimum raise required to move forward sits at £10 million. If it clears that bar, plus regulatory approval from the Financial Conduct Authority, the offering would mark a notable first for the UK capital markets: a listed perpetual preferred share explicitly underpinned by corporate Bitcoin holdings. From web design to Bitcoin treasury The Smarter Web Company started life in 2009 as a straightforward web design agency. It began accepting Bitcoin payments in 2022, which in hindsight looks like the first domino in a much larger strategic pivot. The company went public through a reverse takeover IPO on the Aquis Exchange in April 2025. By February 2026, it had uplisted to the LSE Main Market, a move that gave it access to a far deeper pool of institutional capital. The company adopted a formal Bitcoin treasury policy in 2025, and as of m...