Locate Technologies Makes NZX Move as Country’s First Listed Bitcoin Treasury Company
Locate Technologies has made history as the country’s first listed Bitcoin treasury company, marking a bold move that goes beyond logistics and technology. The company’s decision to hold Bitcoin on its balance sheet represents a strategic trade: short fiat, long Bitcoin.
Founder and CEO Steve Orenstein explains, “Governments around the world continue to print money and devalue their currencies. Fiat is designed to lose purchasing power over time, while Bitcoin is engineered to be scarce. Our position is simple: we’re short fiat, long Bitcoin.”
This isn’t speculation. For Locate Technologies, it’s a fundamental shift in how businesses think about preserving value. “We see Bitcoin as a long-term store of value and a monetary network that operates independently of central banks. It’s open, verifiable and global. By holding Bitcoin, we’re aligning ourselves with sound money and long-term thinking,” says Orenstein.
The company’s move to delist from the Australian Securities Exchange (ASX) and list instead on the New Zealand Stock Exchange (NZX) was a deliberate step to support this new capital allocation strategy. NZX officials welcomed the transition recognising Locate Technologies’ innovative approach to both logistics and finance.
It was back in 2014 when Orenstein launched Zoom2u, offering same-day delivery across Australia’s major cities after becoming frustrated with the delivery process. “I had a missed call from a driver and the driver was super frustrated because he tried to deliver three or four times. He said, ‘Why weren’t you home?’ And I responded, ‘Well, I didn’t know you were delivering’,” he recalls. “It was a bad experience for me and for the driver.”
What began as a solution to missed deliveries evolved into a global logistics technology platform that provides businesses with real-time tracking, automated ETAs, proof of delivery, and route optimisation.
“What we found was that we had a whole bunch of companies interested in using the technology we’d deployed inside of the Zoom2U business. So we built a separate product called Locate2U, which gives businesses real-time GPS tracking, automated ETA notifications, proof-of-delivery capture, route optimisation — all packaged in a way that’s accessible even for operators with small fleets,” says Orenstein.
Today, Locate2u serves nearly 500 operators worldwide, from courier fleets to furniture retailers managing bulky deliveries. In New Zealand, one of its early adopters is Winning Services, which delivers for AppliancesOnline.co.nz. “Our goal isn’t to give businesses more data; it’s to help them make smarter decisions with less effort,” Orenstein explains.
Like many innovators, Orenstein was looking for the next opportunity to drive growth for Locate Technologies. He saw the creation of a Bitcoin treasury as a way to build equity and support the company’s continued expansion. “Our mission has always been to build technology that improves visibility and trust in the delivery experience. Now we’re applying that same mindset to our balance sheet, building a foundation that’s transparent, resilient, and aligned with the future of money,” says Orenstein.
The company’s NZX listing and Bitcoin strategy represent a powerful combination, pairing a proven logistics platform with a forward-looking treasury approach. “We’re not traders. We’re long-term builders. Bitcoin complements that mindset perfectly,” says Orenstein. “It’s about financial independence and future-proofing the company.”
Having already built and exited a successful scheduling software company (Connect2Field), Orenstein understands the value of persistence and vision. “Building a business is an endurance game. What matters most is staying consistent and learning fast,” he says. “Every customer who tells us we’ve made their life easier, that’s what drives me.”
Being the first company to shift from the ASX to NZX gives Locate Technologies a unique distinction but for Orenstein, it’s more than symbolic. It signals a long-term commitment to innovation and financial independence. “We’re proud to be part of New Zealand’s business community and to lead the way as the country’s first Bitcoin treasury company,” he says.
As major players like Amazon continue to raise global delivery expectations, Orenstein believes smaller operators can compete through transparency and reliability. “Customers don’t expect perfection; they expect honesty. When you communicate clearly and deliver on your promises, that’s what builds trust,” he notes.
For Orenstein, both delivery and Bitcoin share a common principle — trust built through transparency. “Delivery isn’t just logistics, and money isn’t just currency. Both are systems of trust. At Locate Technologies, we’re building for the long term in technology, in service, and in sound money,” he says.
Story by Leighton Littlewood
Innovation Nation is a series celebrating stories of innovation and diversity in entrepreneurship from around New Zealand.
Innovation Nation proudly supported by:
