Norwegian Block Exchange Is Set To Become The First Nordic Cryptocurrency Exchange To Be Listed On Euronext “The banking industry’s future is founded on blockchain technology,” NBX CEO Stig Kjos-Mathisen said.
Norwegian Block Market (NBX) said on Friday that it will become the first cryptocurrency platform in the Nordic region (Norway, Sweden, Denmark, and Finland) to list its shares on the pan-European Euronext stock exchange. Bjrn Kjos, who previously established Norwegian Air Shuttle and Bank Norwegian, formed NBX in 2018.
NBX now lists eight cryptocurrencies and offers around 20 trading pairings. The exchange has been authorised and is regulated by Norway’s Financial Supervisory Authority. NBX claims that it is the only platform in the Nordic nations that covers customers’ cryptocurrency via the $150 million Ledger Vault insurance pool, which pays out in the case of a covered incident.
NBX raised $6.6 million in December via an equity and sale. It would make no more capital raises in preparation of the Euronext debut. The firm’s market capitalization increased 142 percent to $56.52 million during the last year on over-the-counter markets. It has a client base of over 25,000 and processed $101.18 million in revenue during the first nine months of the year.
Stig Kjos-Mathisen, the company’s CEO, issued the following statement in response to the development: ‘We are now well-funded to execute on our near-term aspirations for technology and product development, as well as client acquisition. However, as a publicly traded business, we will be accessible to a far larger investor base and will be well suited to access the stock market if further funding is necessary in the future.
In the Nordics, cryptocurrency acceptance has been gradual, despite policymakers’ softer attitude on digital asset monitoring. Norway’s financial regulatory agency views cryptocurrency activity in the nation as mainly uncontrolled, supervising only enterprises suspected of money laundering. There are less than ten firms registered in Finland that operate in the digital currency field. In Sweden, the country’s Nordic Growth Market exchange recently introduced the first Polkadot exchange-traded product. In Denmark, the country’s top bank advises caution when it comes to cryptocurrency acceptance but does not advocate involvement.
Also Read: El Salvador Amasses 150 Bitcoins When The Price Of Bitcoin Falls Below $50,000
Wallets