The funding was arranged by Pareto Securities, a Nordic investment bank, who acted as the sole manager and book-runner. Terms were not disclosed. NBX said it is now 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.
Since platform launch in April 2020, NBX reports that it has been working towards becoming a preferred digital assets services provider in the Nordic region. The platform claims over 7000 clients, including institutional accounts, along with trading volume up to 20 million NOK as of November.
NBX’s co-founder and CEO, Stig Aleksander Kjos-Mathisen commented on the funding round:
“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.”
NBX is said to be currently focused on cementing further relationships with institutional clients who are considering cryptocurrencies and pursuing wealth management.