NoviqTech (ASX: NVQ) has confirmed it is in advanced discussions to list its shares on the US-based over-the-counter (OTC) stock market.

The OTC is an established platform operated by OTC Markets Group in New York and provides live market trading in companies that hold primary listings in other markets.

The move is aimed at enhancing the visibility and accessibility of the company to North American investors and reflects NoviqTech’s recognition of the US cryptocurrency market and the growing momentum in blockchain technologies.

Dual listing

NoviqTech chief executive officer Freddy El Turk said a dual listing on the ASX and OTC would benefit the company and its shareholders.

“North America represents a key region for expanding our investor access,” he said.

“OTC trading offers a practical and efficient avenue for acquiring shares in local time zones and currencies and supports our goal of broadening our market reach and enhancing liquidity.”

If the company’s market capitalisation increases on the OTC listing, it may explore value-accretive options via a larger US trading platform such as the New York Stock Exchange or NASDAQ.

Capital raising

NoviqTech received firm commitments for a $1.05 million placement this week to accelerate the development of its blockchain-powered solutions.

The raising received strong support from international blockchain innovator Antanas Guoga aka “Tony G”, as well as several industry professionals with expertise and leadership in the blockchain and cryptocurrency sectors.

“Securing this support marks a defining moment for NoviqTech and strengthens our ambition to drive innovation at the intersection of blockchain and sustainability,” Mr El Turk said.

“The belief in our mission empowers us to fast-track our technology roadmap, accelerating the development of powerful, scalable solutions that help companies achieve unparalleled transparency and compliance in sustainability.”

Blockchain products

NoviqTech offers a suite of products focused on data storage, tracking and reporting based on ledger and blockchain technology.

Its key offerings include carbon reporting, carbon tokenisation and guarantee of origin certificates relating to green fuels and resources.

As no new shares are being issued, the OTC listing and subsequent trading will be non-dilutive to existing NoviqTech shareholders.