Norwegian Block Exchange (NBX), a prominent cryptocurrency exchange and digital asset platform in the Nordics, has made history by becoming the first publicly listed company in Norway to incorporate Bitcoin into its corporate treasury. This move marks a significant evolution in the financial landscape of Norway.
Initially, NBX has acquired 6.0 Bitcoin, with a plan to increase its holdings to 10.0 Bitcoin by month’s end. The cryptocurrency was procured through loans secured from key shareholders and will function as collateral for the issuance of USDM, a regulated stablecoin that complies with the EU’s Markets in Crypto-Assets (MiCA) framework on the Cardano blockchain. MiCA enforces stringent regulations for stablecoins and cryptocurrency operations within the EU.
NBX is looking to attract investors interested in Bitcoin exposure to facilitate future acquisitions. As part of its investment strategy, NBX has made it clear that it will neither sell nor short these Bitcoin holdings. Instead, the exchange intends to utilise the cryptocurrency for generating yield through its insured custody solutions and collaborations within the Cardano and USDM ecosystems.
In an effort to expand its product offerings, NBX has set its sights on introducing Bitcoin-backed loans in the upcoming quarters. This approach not only aims to enhance operational efficiency but also seeks to draw in capital from investors looking to engage with Bitcoin in a regulated environment, particularly through Norwegian-listed entities.
To support its ongoing expansion, NBX is actively courting high-net-worth individuals, family offices, and similar investment groups, inviting them to participate in its funding rounds. Additionally, the company anticipates hosting a Bitcoin treasury event on 11 June, allowing for deeper engagement with stakeholders and providing further insights into its strategies.
Through these initiatives, NBX is striving to solidify its position within the cryptocurrency domain whilst paving the way for a broader acceptance of digital assets in Norway’s financial practices.
