Norwegian Block Exchange has officially become the latest cryptocurrency exchange platform to secure multimillion investments after reaching a $7.1 million deal with a private investor. The Oslo-based cryptocurrency exchange network was created in April 2020 by Bjørn Kjos but has become one of the household names in the crypto world.
Despite entering the space in less than a year, the Norwegian Block Exchange currently boasts over 700 clients who have invested millions of dollars in their wallets. Institutional accounts were the first set of investors, and the early deals ensured that the platform made not less than 20 million NOK profit used to grow their trading volume.
NBX is enjoying speedy growth
In the same vein, we reported last year how the General Assembly approved their request to partner with Pareto securities in a deal worth more than 60 million NOK. The approval means they are legally permitted to function as a digital exchange platform capable of changing digital currencies to Nordic. Meanwhile, this latest deal further buttresses the fact that the platform is enjoying a great entering into the industry, and it won’t stop in its desire to become one of the go-to exchange platforms in the nearest future.
While disclosing the latest development, Co-Founder and CEO of the digital exchange network Stig Aleksander Kjos-Mathisen said the executives are very happy to have reached a long-term agreement with many private investors such a short time of existence.
He believes the partnership will go a long way in boosting NBX’s dream of becoming a one-stop digital exchange platform with whom many investors and crypto enthusiasts will be confident to partner with. It is believed that the investment will provide NBX the financial strength to purchase a banking license, which will make it one of the first generation of digital banking assets in Europe. Should NBX maintains its steady growth, it won’t take much time to achieve its goals and objectives.
The cryptocurrency market creates a new all-time record
In other news making headlines in the crypto world, Swiss-based exchange platform Instimatch has revealed its desire to collaborate with Algorand for better service delivery. In a statement released by Instimatch’s CEO Daniel Sandmeier, both digital platforms are willing to work together to provide investors the opportunity to invest and trade in diverse cryptocurrencies.
The strategic partnership will provide long-lasting solutions to difficulties related to payment, RegTech, and Islamic banking. This will come as encouraging news to all Instimatch users who will be counting on Algorand’s blockchain service for a better decentralized and stress-free trading experience.
Shifting attention to cryptocurrency prices by the end of all business transactions on Thursday, Bitcoin continued its bullish run as it reaches $38,641. Ethereum is valued at $1,172.62, followed by Tether at $1.00 and XRP at $0.31. The crypto world created a new record on Thursday as it recorded an all-time market price of $1 Trillion, thanks to Bitcoin price and a huge number of high-profile transactions made all through the day.