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Savings bank in Norway invests in a crypto exchange

From fxstreet.com

One of the next big things in the crypto market is savings. A Norwegian savings company called Sparebanken Øst has invested approximately USD 1.65 million (NOK15 million) for a 16.3 percent stake in Norwegian Block Exchange (NBX). According to the 2018 annual report, the total assets of Sparebanken Øst Boligkreditt AS amounted to NOK 142 billion at the end of 2018, They also commented: “While risk is high in NBX, the investment is financially marginal for the bank,” according to the release. “The bank believes that the ownership position in NBX is sound, based on the bank’s solidity and risk profile, and is r ... (full story)

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  • Category: Fundamental Analysis