Norwegian Block Exchange (NBX) acquires 50% of Flip Company AS and enters a strategic partnership to include the non-custodial wallet app into NBX’s product portfolio

20 Nov 2025 07:00 CET

Oslo, 20. November 2025 – Norwegian Block Exchange AS (NBX), a leading Nordic
Crypto Service Provider, announced that it acquired 50% of Flip Company AS from
Autonomous Investments AS. The Flip Company AS is a Norwegian software company
specializing in non-custodial wallet solutions, the Flip App has about 1 million
downloads and the Flip App users will be able to access NBX services directly
from the Flip App.

This follows NBX's strategy to acquire complementary products and services to
its existing regulated digital asset platform. The combination creates a strong
value proposition in the Nordics by combining regulated custodial services with
non-custodial ease of use. Stablecoin circulation has grown more than 10X to
above $220 billion in the last 5 years, and the Flip App enables an efficient
and low-cost way to use stablecoins that fits alongside NBX's strategic
investments in USDM and other stablecoins.

Through Flip Company's technology, users gain control over their private keys
and digital assets in self-custody solutions aligned with crypto's
decentralization principles leading to enhanced privacy and autonomy in addition
to direct blockchain access without intermediaries.

"This partnership represents further development in our cryptocurrency
services," said Stig Kjos-Mathisen CEO of Norwegian Block Exchange. "We see that
it has become more and more important to reach and offer services to customers
outside of the custodial role, bridging the Flip app and the NBX platform allow
us to offer the best of both worlds”.

The global non-custodial wallet market is experiencing strong growth, valued at
USD 3.5 billion in 2024. Meanwhile, regulatory frameworks like MiCA are creating
new opportunities for compliant, user-centric crypto services.

"The future of cryptocurrency isn't about choosing between centralization and
decentralization—it's about having options," added Gotfred Berntsen of The Flip
App. "This partnership allows us to serve everyone".

Transaction details and Settlement Structure:

NBX will acquire 50% of Flip Company AS from Autonomous Investments AS for a
consideration of MNOK 4.4. Payment via subscribing for new shares in NBX.
Subscription price: VWAP of shares on Euronext Growth Oslo during 8-week period
prior to Closing. Closing expected in November 2025.

Share capital increase requires NFSA approval; transaction reversible if
approval denied.

Additional Share Options:
Seller receives warrants to acquire additional shares equal to the number of new
shares
Exercise price: VWAP for 2-week period prior to exercise, less 30% discount
(minimum: Subscription Price + 25%) Exercise period: 12 months from Closing.


About Norwegian Block Exchange (NBX)
Founded in 2018, Norwegian Block Exchange (NBX) is a trusted cryptocurrency
exchange serving the Nordic market. Licensed and regulated in Norway, NBX offers
secure trading of digital assets, custody solutions, and blockchain technology
services for retail and institutional clients. NBX is committed to providing a
compliant trading environment with robust security measures and transparent
operations. The company issued the first credit card in the world with BTC
cashback.

Contact person: Stig Kjos-Mathisen, CEO Email:
stig.aleksander.kjos-mathisen@nbx.com Phone: +47 932 87 572

About Flip Company AS
Flip Company AS is a Norwegian software company providing non-custodial wallet
solutions and services, supported by proprietary software products. The company
enables users to maintain full control of their digital assets while accessing
cryptocurrency services.

Contact person: Gotfred Berntsen, Chair of the Board. Email: gotfred@thelfip.app
Phone: +46 70 536 1585

More information:
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