Norwegian Block Exchange AS

Governance Information • Mar 20, 2023

NBX partners with Spenn Technology and JengaX

NBX partners with Spenn Technology and JengaX

Oslo, Norway - NBX, the leading Norwegian-based digital assets exchange, has signed agreements with Spenn Technology and JengaX to exploit synergies between the three companies and increase market share. The agreements will give NBX access to the African market through SPENN and JengaX, and connect SPENN and JengaX to the nordics.

A part of the partnership is to explore the development of an easy on-ramp to the SPENN ecosystem from the Nordic countries, allowing Scandinavians with family, friends and roots in Africa to conveniently transfer funds and value to them. Further enable customers of both SPENN and JengaX to purchase and sell crypto currencies across geographical regions, and connect them with decentralized financial services.

"We love SPENN’s focus on financial inclusion. This partnership can significantly lower the cost of money transfer, which is especially relevant on the African continent, where many people struggle to make a living and where financial costs are extremely high", says Bjørn Kjos.

Both SPENN and JengaX are expected to utilize NBX’s Crypto-Compliance-as-a-service to ensure a safe, secure and compliant payment network. The partnership will also explore issuing crypto linked debit and prefilled payment cards.

"So far, our focus has been on the Nordics but with partnerships with SPENN and JengaX, we can expand our offering to the African market, which has the highest uptake of crypto usage, and which is very friendly towards blockchain and cryptocurrency technology. I also expect the partnership to increase the Scandinavian market for NBX as we will get exposure to other customer segments", says Stig A. Kjos-Mathisen, CEO of NBX.

"We are very excited to partner with NBX to build a highly competitive remittance solution, which will enable more cost-effective financial interaction both in Europe and throughout the SPENN network in Africa", says Jens Glasø, CEO of SPENN Technology.

Link to info page: https://nbx.com/

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Contact person:

Stig Kjos-Mathisen - CEO Mail: stig.aleksander.kjos-mathisen@nbx.com, Phone: +47 93287572