Norway, Jan 9, 2021 /AlexaBlockchain/ – Norwegian Block Exchange (NBX) has secured a $7 million (NOK 60 million) private investment. The funding was arranged by Pareto Securities — the leading investment bank in the Nordics, that acted as the sole manager and book-runner.
The investment would allow NBX 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 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 the company’s ultimate goal of becoming a digital asset bank, further down the line.
Commenting on the investment, 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.”
NBX is currently focused on building new relationships with institutional clients who are considering cryptocurrencies as a digital gold and growing trend in wealth management.