TechFlow, on June 3, according to Cointelegraph, Norwegian cryptocurrency exchange Norwegian Block Exchange (NBX) announced the launch of a Bitcoin reserve initiative, causing its stock price to surge over 138% on June 2. NBX stated it has already acquired 6 bitcoins (approximately $633,700), with plans to increase its holdings to 10 bitcoins within this month. Additionally, the company is continuing fundraising efforts to further purchase bitcoin.
NBX intends to use these bitcoins as collateral to issue a stablecoin called USDM on the Cardano blockchain and generate yield through the Cardano ecosystem. The company also revealed that its board is exploring the launch of bitcoin-backed lending services as part of its goal to become a digital asset bank.
