Norwegian Block Exchange will be the first Nordic cryptocurrency platform to be listed on Euronext
On Friday, the Norwegian Stock Exchange (NBX) Announce It will become The first cryptocurrency platform in the Nordic countries (Norway, Sweden, Denmark and Finland) listed its shares on the pan-European stock exchange. NBX was founded in 2018 by Bjørn Kjos, who also founded Norwegian Air Shuttle and Bank Norwegian.
NBX lists eight cryptocurrencies and approximately 20 available trading pairs. The exchange is approved and supervised by the Norwegian Financial Supervisory Authority. NBX claims that it is the only platform in the Nordic countries that provides insurance for customers’ cryptocurrency through a $150 million Ledger Vault insurance pool. If an underwriting event occurs, the insurance pool will pay.
In December of last year, NBX raised $6.6 million through equity and sales. Due to the expected listing on Euronext, it will not raise any more funds. In the past year, the company’s over-the-counter market value has soared by 142% to $56.52 million. It had more than 25,000 customers and processed $101.18 million in the first nine months of this year.
CEO Stig Kjos-Mathisen issued the following statement on development:
‘We are currently sufficiently funded to realize our ambitions in technology and product development and customer acquisition in the short term. However, as a public company, we will be associated with a wider investor base and be able to make full use of the stock market when more funds are needed in the future.
Although regulators have adopted a more moderate stance on digital asset regulation, the adoption of cryptocurrencies in the Nordic region has been slow.The Norwegian financial management agency believes that the country’s crypto activities are largely unregulated, and only Supervise company money laundering. In Finland, Less than 10 companies Register to operate in the field of digital currency.In Sweden, the first Polkadot Exchange Traded Products It was recently launched on the country’s Nordic Growth Market Exchange.As for Denmark, the country’s largest bank urges caution in adopting cryptocurrencies, but Does not support intervention.