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Blockchain Firm Roxe Goes Public in a $3.6 Billion SPAC Deal (Report)

That Blockchain-based payments company – Roxe Holding – has reportedly closed a $3.6 billion SPAC deal with Goldenstone Acquisition Ltd to become a publicly traded company with the ticker symbol “ROXE”.

NASDAQ’s Next Competitor

Despite the unfavorable conditions in the cryptocurrency market, Roxe Holding and Goldenstone Acquisition have decided to enter into a $3.6 billion collaboration and join the global online marketplace as a joint entity.

According to Reuters reporting, the newly formed organization will operate under the initials of Roxe Holding after the transaction closes. The initiative is subject to approval by Goldenstone’s stakeholders and financial regulators.

It’s worth noting that Roxe shareholders will contribute 100% of their equity to the combined company and there is no minimum cash requirement. Earlier this year, Goldenstone raised $57.5 million in its initial public offering (IPO), a small fraction of the billion-dollar deal.

Josh Li – Roxe’s chief business officer – believes the deal is an “important milestone” that will accelerate the development of his company. The collaboration with Goldenstone will also “enable users to streamline payments, financial transactions and the exchange of value around the world,” he added.

For his part, Goldenstone CEO Eddie Ni praised blockchain technology for its ability to transform the settlement system. Referring to Roxe, he called it a “leading blockchain-based open payments network” that incorporates a “robust strategy” into its operations and could emerge as a leader in its field.

Founded three years ago, Roxe Holding connects payment companies, banks and remittance companies by using blockchain technology in cross-border settlements. The organization has 38 partners and operates in more than 114 countries.

Coincheck and PrimeBlock on the same train

In March of this year, Japanese cryptocurrency exchange – Coincheck – announced its intention to go public in the United States by entering into a merger agreement with Thunder Bridge Capital Partners IV Inc. to join the NASDAQ under the ticker symbol “CNCK”. .

A month later, 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 is expected to close in the second half of 2022, turning the former into a public company.

Some of the leading cryptocurrency miners have already joined NASDAQ. Marathon Digital trades under the ticker symbol “MARA” while Riot Blockchain trades under the “RIOT”.

Source: Crypto News Deutsch

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