Norwegian Block Exchange scores investment
Just before entering 2021, the General Assembly approved the completion of a 60 million NOK private placement, for which Pareto Securities, the leading investment bank in the Nordics, acted as the sole manager and book runner. which puts NBX in a prime position to continue to develop our trading platform for cryptocurrencies and digital assets, as well as new products related to banking and E-money licenses.
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Ever since their public launch in April 2020, NBX has been working towards becoming a preferred digital assets services provider in Nordics. Since then, the product has attracted over 7000 clients, including institutional accounts, which, in turn, allowed them to grow their trading volume up to 20 million NOK by November. In doing so, they were able to engage major Norwegian investors and successfully close their most recent, 60 million NOK placement, which will help them to achieve our ultimate goal of becoming a digital asset bank, further down the line.
On the private placement, NBX’s Co-Founder and CEO, Stig Aleksander Kjos-Mathisen said: “I am very pleased that NBX has successfully raised 60 million NOK in a private placement. This funding will provide NBX with the financial robustness to pursue a banking license, and become one of Europe's first digital assets banks, while simultaneously expanding our services to new countries and establishing NBX as the preferred digital asset service provider in the Nordics.” All in all, on the way towards these goals, NBX is currently focused on cementing further relationships with institutional clients who are considering cryptocurrencies as a digital gold and growing trend in wealth management.