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June 22, 2022

Blockchain payment firm Roxe to debut on Nasdaq following SPAC merger

US-based blockchain payment network Roxe is set to go public following a business merger with a special purpose acquisition company (SPAC).

Blank check company Goldenstone Acquisition signed a definitive business combination agreement with the firm to take it public for a combined enterprise value of about $3.6bn.

Following the merger, Roxe will become a publicly traded company on the Nasdaq stock exchange.

Roxe shareholders are expected to roll 100% of their equity into the combined entity.

The transaction is expected to close in the first quarter of next year. It is subject to approval by Goldenstone and Roxe stockholders and other regulatory approvals.

Roxe chief business officer Josh Li said: “We are thrilled to be working with Goldenstone to bring Roxe onto NASDAQ, which we believe will accelerate our growth and that of the groundbreaking payments ecosystem that Roxe makes possible.

“We believe that through our combined teams and expertise, Roxe will empower users to streamline payments, financial transactions and value exchange across the globe.”

Founded in 2019, Roxe provides a multilateral payment channel that supports a range of assets including currency, gift cards, loyalty rewards, gaming coins, stocks, cryptocurrencies, and CBDC.

The firm enables its B2C and B2B customers to send and receive payments from 113 countries globally through its partners including ECS Fin, Nium, N2Xpress, Axletree Solutions, iPay, Fairexpay, Rana Express and Treviso.

Goldenstone CEO and chairman Eddie Ni said: “Roxe is a leading blockchain-based open payments network and we strongly believe in the tremendous opportunity for blockchain to transform payments. We believe that Roxe’s adherence to a compliant, robust strategy will make it a winner in this track.”

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