The blockchain-based payments company – Roxe Holding – reportedly struck a $3.6 billion SPAC deal with Goldenstone Acquisition Ltd to become a publicly-traded enterprise with a ticker symbol “ROXE.”
NASDAQ’s Next Participant
Roxe Holding and Goldenstone Acquisition entered into a $3.6 Billion collaboration despite the poor state of the cryptocurrency markets. They will now join the global marketplace online as a combined entity.
According to a coverage by Reuters, upon closing the transaction, the newly formed organization will operate under Roxe Holding’s initials. Still, stakeholders from Goldenstone and financial regulators need to approve the initiative.
Roxe shareholders can roll 100% of their equity into the combined entity, and there is no minimum capital requirement. Goldenstone raised $57.5million in its initial public offer (IPO) earlier this year. This is a fraction of the $800 million deal.
Josh Li – Chief Business Officer of Roxe – believes the endeavor is an “important milestone” that will accelerate his firm’s development. The collaboration with Goldenstone will also “empower users to streamline payments, financial transactions, and value exchange across the globe,” he added.
For his part, Goldenstone’s CEO – Eddie Ni – praised blockchain technology for its ability to transform the settlement system. Touching upon Roxe, he called it a “leading blockchain-based open payments network” that applies a “robust strategy” into its operations and could emerge as a leader in its field.
Roxe Holding, which was established three years ago, connects banks and payment companies through cross-border settlements using blockchain technology. Roxe Holding has 38 partners and is active in over 114 countries.
Coincheck and PrimeBlock with the Same Move
In March this year, the Japanese cryptocurrency exchange – Coincheck – revealed its intentions to go public in the United States by entering into a merger agreement with Thunder Bridge Capital Partners IV Inc. The deal was worth $1.25 billion as upon closing, the joint entity will hop on NASDAQ under the ticker symbol “CNCK.”
A month later, the US-based crypto mining startup – Prime Blockchain Inc. (PrimeBlock) announced its future collaboration with 10X Capital Venture Acquisition Corp II (VCXA.O). The $1.25 SPAC deal will make the former a publicly traded company. It is expected that it will be completed in the second half 2022.
Some of the top cryptocurrency miners are already NASDAQ members. Marathon Digital trades under the ticker symbol “MARA,” while Riot Blockchain under “RIOT.”