Norwegian Block Exchange (NBX) raises €5.84 million

Nordic digital asset service provider, NBX, has raised the equivalent of €5.84 million in an equity round led by Pareto Securities

Norwegian Block Exchange (NBX) has completed a 60 million Norwegian Kroner ( €5.84 million) equity private placement with Pareto Securities.

Pareto Securities is a leading investment bank in the Nordics, with it also acting as a sole lead manager and guarantor of the deal.

The capital raise ensures that NBX can continue to develop its cryptocurrency exchange, as well as its custodian and payment systems.

Having launched in April 2020, NBX has been becoming a preferred provider of digital asset services in the Nordic region, attracting more than 7,000 customers including notable institutional investors.

The recent equity round will also help NBX in its ultimate goal of becoming a regulated digital asset bank.

On the equity placement, the company’s co-founder and CEO Stig Aleksander Kjos-Mathisen said: “I am elated that NBX has managed 60 million kroner in a private placement.

“This funding will provide us with the financial resilience needed to pursue a banking license, thus becoming one of Europe’s first digital asset banks, while expanding our services to new countries and establishing NBX as the preferred provider of digital asset services in the Nordics.”

To achieve the goal of becoming a digital assets bank, NBX is focusing on institutional clients and investors who want to diversify into alternative asset classes and ‘digital gold’, which is the growing trend in asset management internationally.

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