The Norwegian crypto exchange NBX has entered into agreements with Jens Glasø’s Spenn Technology and Morten Klein’s JengaX. The purpose is to increase market shares and utilize synergies between the three companies, according to a stock exchange announcement.
The agreements will give NBX access to the African market through SPENN and JengaX, and connect SPENN and JengaX to the Nordics, it says.
Together, they want to look at the possibility of developing a simple way for Scandinavians to transfer funds and values to relatives and friends in Africa.
“We love SPENN’s focus on financial inclusion. This partnership can significantly reduce the costs of money transfers, which is particularly relevant on the African continent, where many people struggle to earn a living and where financial costs are extremely high,” says NBX board member Bjørn Kjos.
The companies will also look at the possibilities of issuing crypto-linked debit and prepaid payment cards.
After the stock market opened, a temporary trading halt was introduced in the share due to a strong rise. At the moment of writing, it is up 37 percent.
