Norwegian Crypto Firm NBX Secures Capital For Growth

Investing, News | January 11, 2021 By:

The Norwegian Block Exchange (NBX) has completed a NOK 60 million (7M USD) private equity placement with investment bank Pareto Securities acting as sole lead manager and guarantor of the deal.

Based in Oslo, NBX is a cryptocurrency exchange, custodian and payments system. NBX is driven to become a financial services hub for the cryptocurrency economy, with transparency, commitment to compliance, security and stability as core. NBX is regulated by the Financial Supervisory Authority of Norway (Finanstilsynet).

Since public launch in April 2020, NBX has been working towards becoming the preferred provider of digital asset services in the Nordic region. Thus far, the platform has attracted more than 7,000 customers, including large institutional investors. In so doing, NBX was able to engage major Norwegian investors and successfully close their 60 million-krone equity offering, which will help them achieve the ultimate goal of becoming a digital asset bank.

According to NBX, they are focusing on institutional clients and investors who want to diversify into alternative asset classes and ‘digital gold’ in order to achieve the goal of becoming a digital assets bank.

“I am elated that NBX has managed 60 million kroner in a private placement,” said NBX co-founder and CEO Stig Aleksander Kjos-Mathisen. “This funding will provide NBX with the financial resilience needed to pursue a banking license, thus becoming one of Europe’s first digital asset banks, while expanding our services to new countries and establishing NBX as the preferred provider of digital asset services in the Nordics.”