Norwegian Block Exchange, a crypto startup launched by the founder of Scandinavia’s largest airline, kicks-off the new year with $7.1M investment

Norwegian Block Exchange (NBX) is a cryptocurrency startup founded by Bjorn Kjos, who also founded Norwegian Airlines and Bank Norwegian. Just before entering 2021, NBX has received a $7.12 million (60 million NOK) investment to accelerate the growth of its cryptocurrency exchange which has seen an increase in demand in recent months.

The financing was arranged by Pareto Securities — the leading investment bank in the Nordics, that acted as the sole manager and book-runner. The fresh capital infusion puts NBX in a prime position 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, the Oslo, Norway-based 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.

On the private placement, 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.”

All in all, on the way towards these goals, NBX is currently focused on cementing further relationships with institutional clients who are considering cryptocurrencies as digital gold and a growing trend in wealth management.

Based in Oslo, having highly-skilled professional teams both in Oslo and Riga, NBX sees the potential to become the one-stop solution for financial services in the cryptocurrency economy. Transparency, commitment to compliance, security, and stability are all at the core of NBX business.