In Brief:
- Norwegian Block Exchange declared it is going to become the first crypto exchange among Nordic Countries to be publicly listed on the Euronext.
- NBX claims to be the only platform in the Nordic countries to insure clients’ cryptocurrency through the $150 million Ledger Vault insurance pool.
- NBX also plans to apply for an e-money institution license.
Norwegian Block Exchange announced it is on the way to become the first cryptocurrency exchange among Nordic Countries to be publicly listed on the Euronext stock exchange.
NBX claims to be the only platform in the Nordic countries(Norway, Sweden, Denmark, and Finland) to insure clients’ cryptocurrency through the $150 million Ledger Vault insurance pool which pays out in the event of a covered incident.
“We are currently well-funded to be able to deliver on our ambitions for development of technology and products as well as customer acquisition in the near term. However, as a listed company, we will be relevant for a much broader investor base and be well equipped to utilize the equity market when more capital is required later. The listing represents another quality stamp for us,” added NBX’s CEO Stig Kjos-Mathisen
In December 2020, NBX raised NOK 60 million in stock and will not raise additional cash in connection with the Euronext Growth listing.
In the OTC market, the NBX stock was recently traded at NOK 8 per share. This equates to a market capitalization of around NOK 519 million.
When compared to the valuation at the last capital issue in December 2020, this implies a 142% rise.
NBX now lists eight cryptocurrencies and roughly 20 trading pairings. The platform is registered with Norway’s Financial Supervisory Authority and plans to apply for an e-money institution license.
CEO Kjos-Mathisen stated, “Becoming an e-money institution is an important milestone towards becoming a bank, as it will enable us to offer payment services based on cryptocurrencies. We are building brick by brick towards a complete banking and transactions offer to the market, solely based on blockchain technology and cryptocurrency.”
A lot of crypto exchanges are moving forward with the plans for an initial public offering. A few days back India’s first crypto unicorn, CoinDCX stated that it aspires to launch an IPO as soon as government regulations permit.
