World's First - National Stock Exchange of Australia (NSX) Acquired Using Cryptocurrency Nakamoto Media - 3 Weeks Ago


Posted December 19, 2019 by botongco

On 28 November, with the cryptocurrency GLOS, Roy Lam acquired a 11.9% stake of NSX and became one of the major shareholders of the exchange. This is the world's first acquisition of a listed stock exchange by a cryptocurrency.
 
On 28 November, with the cryptocurrency GLOS, Roy Lam acquired a 11.9% stake of NSX and became one of the major shareholders of the exchange. This is the world's first acquisition of a listed stock exchange by a cryptocurrency.

NSX Introduction
NSX is Australia's second largest stock exchange and is an Australian-based stock exchange owned and operated by NSX Limited. The listing code on the ASX board is "NSX". NSX dates back to 1937, when it was known as the Newcastle Stock Exchange.

NSX's advantage is that it offers a low-cost listing solution for companies wishing to go public at about half the cost of the ASX. NSX's listing criteria are particularly attractive for innovative or early-stage companies. NSX's flexible listing standards make listing publicly one of the best alternatives to private equity raise for early-stage companies.

Roy Lam, representative from the acquiring company says that, "This transaction has an iconic impact on the financial industry, reflecting the increasing importance and acceptance of cryptocurrencies in the world, and also has a positive key role in promoting the use of cryptocurrencies in the world. The position of cryptocurrency will become more and more important in the financial industry. In the future, there will be more interactions between cryptocurrencies, existing currencies and securities, with cryptocurrencies becoming more widely used."

Initial Public and Coin Offering (IPCO) refers to a company raising funding simultaneously through public listing and issuance of cryptocurrencies. IPCO is more flexible and has lower financing cost, and this concept came about with growing adoption of cryptocurrencies as a financing tool. In the future, IPCO might become one of the important financing methods, and this transaction is crucial to the future financial industry in using IPCO as a financing method.
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Contact Email [email protected]
Issued By Global News Online
Country United States
Categories Blockchain
Tags NSX , Blockchain , cryptocurrency
Last Updated December 19, 2019