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Blockchain Firm Roxe to Go Public Via a $3.6 Billion SPAC Deal (Report)

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The blockchain-based payment company — Roxe Holding — has reportedly entered into a $3.6 billion SPAC deal with Goldenstone Acquisition Ltd to become a publicly traded entity with the ticker “ROXE.”

Next NASDAQ member

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Despite the unfavorable state of the cryptocurrency market, Roxe Holding and Goldenstone Acquisition have decided to enter into a $3.6 billion collaboration and join the global online market as a combined company.

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According to coating According to Reuters, after the closing of the transaction, the newly formed organization will operate under the initials of Roxe Holding. The initiative is yet to be approved by Goldenstone’s stakeholders and financial regulators.

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It is worth noting that Roxe shareholders will invest 100% of their capital in the combined company and there are no minimum cash requirements. Earlier this year, Goldenstone raised $57.5 million in an initial public offering (IPO), a fraction of a billion dollar deal.

Josh Lee, Chief Commercial Officer at Roxe, says the move is a “major milestone” that will accelerate the growth of his firm. Collaboration with Goldenstone will also “provide users with the ability to streamline payments, financial transactions and exchanges of value around the world,” he added.


For his part, Goldenstone CEO Eddie Nee praised blockchain technology for its ability to transform the settlement system. Referring to Roxe, he called it a “leading blockchain-based open payment network” that applies a “robust strategy” to its operations and has the potential to become a leader in its field.

Founded three years ago, Roxe Holding brings together payment companies, banks and money transfer firms using blockchain technology in cross-border settlements. The organization has 38 partners and operates in more than 114 countries.

Coincheck and PrimeBlock in the same move

In March of this year, Japanese cryptocurrency exchange Coincheck announced its intentions to list in the US by entering into a merger agreement with Thunder Bridge Capital Partners IV Inc. The deal was valued at $1.25 billion, as the joint venture will be listed on the NASDAQ under the ticker “CNCK” after the joint venture closes.

A month later, American cryptocurrency mining startup Prime Blockchain Inc. (PrimeBlock) has announced its future partnership with 10X Capital Venture Acquisition Corp II (VCXA.O). The $1.25 SPAC deal is expected to close in the second half of 2022 and turn the former into a public company.

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

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