Norwegian Block Exchange Becomes Norway’s First Public Bitcoin Treasury Firm

Key Takeaways:

• Norwegian Block Exchange (NBX) has become the first publicly listed company in Norway to add Bitcoin to its corporate treasury.
• NBX plans to launch Bitcoin-backed loans and expand its offerings to private clients and institutions seeking exposure to digital assets.
• The company is actively raising capital to increase its Bitcoin holdings and strengthen its position in the European crypto ecosystem.

Norwegian Block Exchange (NBX), one of the Nordic region’s key crypto platforms, has become Norway’s first publicly listed Bitcoin treasury company.

The firm confirmed on June 2 that it has acquired Bitcoin to hold on its corporate balance sheet, marking a strategic shift that aligns with its broader digital asset ambitions.

Norwegian Block Exchange Adds Bitcoin to Balance Sheet

NBX, which is already known for launching the world’s first credit card with Bitcoin cashback, said this new move would strengthen its core operations and create future revenue streams.

The company views the integration of Bitcoin into its treasury as a key step toward evolving into a full-scale digital asset bank.

“As Bitcoin becomes a critical part of the global financial system, holding it directly enhances both our operational efficiency and product offerings,” said NBX in a statement.

As part of its initial strategy, NBX has secured 6.0 BTC and plans to expand that holding to around 10.0 BTC by the end of June.

Bitcoin has been borrowed from the company’s largest owners and will be used as collateral to issue USDM, a stablecoin on the Cardano blockchain. NBX says it is the only European issuer of a MiCA-compliant stablecoin on Cardano.

The company emphasized that it will not sell or short its Bitcoin holdings under any circumstances. Instead, the assets will be held in a professional and insured custody setup to generate yield both on the Bitcoin itself and within the Cardano and USDM ecosystems.

NBX has also distributed 3.78 BTC to customers through its cashback program to date.

Looking ahead, the company plans to introduce new products such as Bitcoin-backed loans.

Executives say this expansion into Bitcoin yield generation services for private and corporate clients, including hedge funds, is part of a broader effort to attract institutional capital and broaden NBX’s product range.

NBX believes the move may appeal to high-net-worth investors and family offices in Norway that are seeking Bitcoin exposure through regulated public companies. The firm is currently in talks to raise additional capital for further BTC acquisitions.

According to a recent notice from LDA Capital, NBX also plans to use incoming investment proceeds to buy more Bitcoin.

The company will host a Bitcoin treasury event on June 11, indicating its intent to engage more stakeholders in its strategy.

By holding Bitcoin directly, NBX plans to offer compliant, secure, and yield-generating digital asset services, positioning itself as a leader in Norway’s evolving crypto ecosystem.

K33 Follows Suit With $6.2M Bitcoin Treasury Strategy as Institutional Interest Grows in Norway

Following NBX’s milestone as Norway’s first public company to adopt Bitcoin as part of its treasury, another local player is joining the ranks.

Crypto investment firm K33, also based in Norway, has launched its own Bitcoin treasury initiative, raising 60 million Swedish kronor (around $6.2 million) to acquire BTC.

The funds were secured through a mix of newly issued shares, warrants, and convertible loans.

K33 is listed on the Nasdaq First North Growth Market and says the move is part of a broader push to explore new Bitcoin-based financial products.

This comes amid a broader wave of institutional interest in Bitcoin across the Nordics.

NBX itself, founded in 2018 by Norwegian Air Shuttle founder Bjørn Kjos, made headlines in late 2021 when it became the first crypto firm in the region to list on the Euronext exchange.

Bitcoin has also shown strength recently, holding above $104,000 as of Monday, with a 57% surge in 24-hour trading volume, according to a report by CoinGecko.

With both NBX and K33 stepping in, Norway is rapidly positioning itself as a Nordic hub for institutional Bitcoin adoption.

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