An Open Letter to Our Customers: Exploring the Prospects of NBX Acquisition by Spenn
May 23, 2023
You may have come across recent news regarding the potential acquisition of NBX by the Spenn company. Some of you have expressed concerns about the implications for you as NBX customers and the funds held on our platform.
First and foremost, we want to reassure you that your funds are and will continue to be secure on our platform. Regardless of any acquisition, our commitment to maintaining strong customer relationships remains unwavering. We would like to take this opportunity to provide you with additional information about the current situation, including our existing partnership with Spenn and the potential benefits of merging our two companies.
In March of 2023, NBX and Spenn entered into a partnership aimed at facilitating payments for the unbanked and underbanked populations in the African region. Spenn, a Norwegian fintech company, specializes in providing digital banking and payment services built on blockchain technology. With approximately 1 million accounts on their platform in Africa (or up to 5 million if considering households with multiple family members using a single Spenn account), Spenn has been at the forefront of enabling financial inclusion in the region.
Since our inception, NBX's core vision has been centered around facilitating cost-effective payments for both recipients and providers, including the possibility to develop innovative remittance solutions. As you may be aware, NBX holds an e-money license, a critical component in our mission to streamline such payment processes. The knowledge and technology we have developed over the years present a solid opportunity to assist companies like Spenn in making a greater impact on individuals who lack access to traditional financial services. Our platform is designed to offer easy access to digital assets, convenient fiat gateways, and a user-friendly interface for all customers. We see strong synergy between our companies and numerous opportunities to expand, exchange expertise, and empower people worldwide to effortlessly manage and transfer funds. See the synergy between NBX and Spenn explained in the video below:
We want to emphasize that our vision for a potential acquisition revolves around maintaining our autonomy. In the event of a merger with Spenn, NBX will remain NBX, functioning as a subsidiary with its own distinct yet aligned vision. Currently, both companies have initiated the due diligence process.
We would like to thank you for choosing our platform! Our commitment to providing a secure and transparent digital asset platform for the Nordic region remains steadfast. Moreover, we are excited to extend our experience to other regions of the world to make an impact.
Please do not hesitate to reach out to us through our social media profiles or our dedicated Customer Success team.