The Norwegian Block Exchange will be the first Nordic cryptocurrency exchange listed on Euronext

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On Friday, Norwegian Block Market (NBX) said it would be the first cryptocurrency platform in the Nordic region (Norway, Sweden, Denmark, and Finland) to go public on the Euronext stock exchange. Bjorn Kjos, who previously established Norwegian Air Shuttle and Bank Norwegian, formed NBX in 2018.

NBX now offers eight digital currencies and roughly 20 trading pairings. The Financial Supervisory Authority of Norway has authorized and overseen the exchange. In addition, NBX claims to be the first platform in the Nordic nations to protect customers’ cryptocurrency via the $150 million Ledger Vault insurance pool, which pays out in the case of a covered incident.

NBX earned $6.6 million in December in an equity and sale transaction. It would not raise any further funds in preparation for the Euronext IPO. On over-the-counter markets, the company’s market value increased by 142% to $56.52 million in the last year. It has more than 25,000 clients and processed $101.18 million in revenue in the first nine months of the year.

We are currently well-funded to be able to deliver on our ambitions for the 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.’

Even as authorities have adopted a looser approach to digital asset supervision, digital currency uptake in the Nordics has been gradual. Cryptocurrency operations in Norway are mainly uncontrolled, according to Norway’s financial, administrative agency, which solely oversees corporations for money laundering.

There are less than ten firms engaged in the digital currency market in Finland. The first Polkadot exchange-traded vehicle was recently introduced on Sweden’s Nordic Growth Market exchange. In Denmark, the country’s main bank advises caution regarding cryptocurrency acceptance but opposes involvement.

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