A Norwegian savings bank dating back to the mid-1800s has just invested in a cryptocurrency exchange set up by local business magnate Bjørn Kjos.
In a press release posted on the Oslo Stock Exchange, Sparebanken Øst said it had taken a 16.3 percent stake in Norwegian Block Exchange (NBX) for 15 million Norwegian krone (around $1.638 million).
NBX was revealed to be in development in April of last year, after being founded by Kjos and his family.
Norwegian business magnate Bjørn Kjos and his family have reportedly set up a cryptocurrency exchange and plan to introduce bitcoin payments at their airline, Norwegian Air Shuttle.
As reported by local business newspaper Dagens Naeringsliv (DN) on Tuesday, the new exchange is dubbed Norwegian Block Exchange (NBX) and is slated to launch in August.