Norwegian Block Exchange (NBX) becomes the first publicly listed company in Norway to hold Bitcoin as part of its treasury strategy.
NBX has acquired 6.0 Bitcoin and plans to increase its holdings to 10.0 within June, using the assets as collateral to issue a MiCA-compliant stablecoin called USDM.
The company will not sell the Bitcoin or go short, instead planning to buy additional Bitcoin with the proceeds and raise more capital from investors for further acquisitions.
The adoption of Bitcoin as a treasury reserve asset is a growing trend globally, with 214 entities holding Bitcoin in their balance sheets, including Brazilian fintech company Méliuz which recently purchased $30.5 million worth of Bitcoin.