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.
“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.
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 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.
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.
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. 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.
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.