Blockchain Payments Firm Roxe to List Via $3.6B SPAC Deal
Blockchain payments firm Roxe will list on Nasdaq through a combination with special purpose acquisition company (SPAC) Goldenstone Acquisition Limited (GDST), according to a press release.
Roxe is the latest in a string on crypto-related firms to go public via a merger with a SPAC, which are shell companies created for the purpose of listing firms.
The deal with Delaware-based Goldenstone Acquisition is worth $3.6 billion. The combined company will trade under the ticker "ROXE."
"This is an important milestone for Roxe. Our merger with Goldenstone will augment our ability to accelerate our growth and empower users to streamline payments, financial transactions and value exchange across the globe," said Josh Li, Chief Business Officer of Roxe.
New Jersey-based Roxe plans to create a global payments network between individuals, banks and businesses using its native blockchain, the Roxe Chain.
In September, it launched a central bank digital currency (CBDC) initiative that allows developing nations free use of its digital currency issuance tool.
The transaction remains subject to approval from Goldenstone shareholders and is expected to close in the first quarter of next year.
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