[OSLO, NORWAY] - Norwegian Block Exchange AS (NBX), the publicly listed
Norwegian digital asset exchange, today announced the signing of a Letter of
Intent (LOI) with Aprikos Venture AS, a Norwegian venture-building firm. The
agreement outlines a strategic cooperation to jointly explore the establishment
of a regulated digital asset exchange in Pakistan.
The initiative follows the recent formation of the Pakistan Virtual Assets
Regulatory Authority (PVARA), which has created a formal framework for licensing
and overseeing digital asset service providers in the country. The cooperation
aims to position NBX and Aprikos Venture as early entrants in one of the world's
largest and most dynamic digital asset markets.
"Pakistan represents a significant opportunity for regulated digital assets,
with high adoption rates and a clear need for secure, compliant financial
infrastructure," said Stig Kjos-Mathisen, CEO of Norwegian Block Exchange. "This
strategic cooperation with Aprikos Venture allows us to combine our robust,
regulator-approved exchange technology with a partner that possesses deep local
market expertise. We believe our established record of compliance and
transparency in Norway provides a strong foundation for building trust with both
users and regulators in Pakistan."
Under the terms of the LOI, the parties intend to form a 50/50 joint venture.
NBX will contribute its exchange technology stack, trading infrastructure, and
governance frameworks. Aprikos Venture will be responsible for establishing the
local corporate structure, leading regulatory dialogue with PVARA, and managing
in-country operations.
"With a population of over 240 million and a clear demand for accessible digital
financial services, Pakistan is at a pivotal moment," said Jamil Rehman,
Chairman of Aprikos Venture. "Partnering with a respected, regulated entity like
NBX is crucial. Together, we can introduce a platform that is not only
technologically advanced but also built on principles of trust and regulatory
adherence, which is essential for long-term success and for serving the
Pakistani market effectively."
The establishment of the joint venture and the subsequent operations are subject
to the negotiation of definitive agreements and the receipt of necessary
regulatory approvals in Pakistan.
About Norwegian Block Exchange (NBX)
Norwegian Block Exchange (NBX) is a regulated cryptocurrency exchange and
digital asset custodian based in Oslo. NBX holds an Electronic Money Institution
(EMI) license and is registered with the Financial Supervisory Authority of
Norway. The company issued the world's first credit card with Bitcoin cashback.
NBX was founded in 2018 by Bjørn Kjos, the founder of Norwegian Air and Bank
Norwegian.
About Aprikos Venture AS
Aprikos Venture AS is a Norwegian venture firm focused on building and scaling
companies within the fintech and healthtech sectors. The firm combines
technology development with strategic cross-border execution and has developed
blockchain-based initiatives, including the pioneering Venturetoken (Vt) digital
rewards ecosystem.
Contact
Stig Kjos-Mathisen, CEO
Norwegian Block Exchange AS
Email:stig.aleksander.kjos-mathisen@nbx.com
Jamil Rehman
Jamil@aprikosventure.com