Barely two months ago Billionaire Norwegian Air CEO Bjørn Kjos, launched the Norwegian Block Exchange (NBX). Reports now trickling in suggest he has set his sights on blockade and ledger technology. An executive of the company has said: “will explore and exploit potential opportunities that lie in blockade and ledger technology.”


Photo: Bjørn Kjos (CEO, Norwegian Air)

NBX is owned by a business entity called Observatoriet Invest. However, Stig Kjos-Mathisen, son-in-law of Nowegian Air CEO and who happens to be the current chairman of NBX has intimated a plan that will eventually see main ownership transferred to Norwegian.


NBX has made $250, 000 in this short while and is looking to operate a cryptocurrency exchange towards the latter part of this year.


Photo: Stig Kjos-Mathisen (Chairman, Norwegian Block Exchange)

The company also plans to commence the airline business intended for the adoption cryptocurrency. This was affirmed by Kjos-Mathisen in a statement he issued only yesterday, saying: “we`re looking at things that are easy to scale, among other things, having a crypto currency as payment option in the airline. We see that there is a need for a serious marketplace where you can buy and sell cryptocurrencies.” NBX is determined to make significant inroads that will rival the likes of exchanges such as GDAX and Kraken.


Norwegian Air has chalked phenomenal feats and made solid gains; it is considered the largest airline in Scandinavia, the third-largest airline in Europe in the niche of low-cost European airlines. It is also ranked the ninth-largest low-cost airline in the world. In 2016, Norwegian Air is on record to have transported a whopping 20 million people across the length and breadth of the world.


The feats-chalking carrier operates in many countries across Europe, the Middle East and North Africa, with as many as 500 routes to 150 destinations in 35 countries. Kjos-Mathisen asserted: “one of the most important thing for us is to build an ecosystem around the solutions we develop. In particular, the ecosystem within the Norwegian group is important, but also ecosystems in the Airline industry.”


Norway is for the most part not cryptocurrency-friendly as was evidenced recently by a small exchange operating in Norway, Bitmynt AS losing a lawsuit against Nordea Bank. Some industry watchers have considered the relationship between Norway and cryptocurrency as complicated.


These notwithstanding some positive gains have been made by the crypto industry in Norway. For instance, there has been a rise in the adoption and merger of cryptocurrency with the banking system; the largest bank in Norway has adopted bitcoin integration, reports indicate. The central bank is on record to have proposed a cryptocurrency issued by the State and used as an alternative to cash.


Having met with financial regulators in the recent past, Stig-Mathisen has noted that he has no qualms about regulation. He is reported by CCN to have said: “It is not long since we met with the Financial Supervisory Authority. My impression is that they are positive about the technology and do not want to inhibit the adaptation, but they have a cautious approach.”


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Images from, Business Insider UK, E24

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