Norwegian Block Exchange secures large private investment
Norwegian Block Exchange (NBX) has secured a NOK60 million investment arranged by sole manager and book runner Pareto Securities – a leading investment bank in the Nordics.
NBX says the investment puts it in a prime position to continue to develop its trading platform for cryptocurrencies and digital assets, as well as new products related to banking and E-money licenses.
Ever since their public launch in April 2020, NBX has been working towards becoming a preferred digital assets services provider in the 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 NOK20 million by November. In doing so, they were able to engage major Norwegian investors and successfully close their most recent, NOK60 million placement, which will help them to achieve the company's ultimate goal of becoming a digital asset bank, further down the line.
NBX Co-Founder and CEO, Stig Aleksander Kjos-Mathisen, says: "I am very pleased that NBX has successfully raised NOK60 million 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."