Blockchain paytech Roxe to go public via SPAC merger in $3.6bn deal

Blockchain-based paytech Roxe is to go public via a $3.6 billion special purpose acquisition company (SPAC) deal.

Roxe to go public via SPAC deal

Roxe has entered into a business combination agreement with Goldenstone Acquisition Limited that will result in Roxe becoming a publicly traded company on the Nasdaq stock exchange.

The deal will see Goldenstone folded into the new merger, with the company operating under the name Roxe. The combined value of the new company will be worth approximately $3.6 billion.

Cash from the deal will shore up Roxe’s balance sheet to the tune of $57.5 million.

Roxe’s blockchain-based technology offers a multilateral payment channel that supports multiple assets, including currency, gift cards, gaming coins, loyalty rewards, stocks, cryptocurrencies, and central bank digital currencies (CBDC).

It was founded in 2019 and is based in New York.

The company currently has more than 40 partners whose business-to-business (B2B) and business-to-consumer (B2C) customers can send and receive payments from more than 100 countries.

“We strongly believe in the tremendous opportunity for blockchain to transform payments,” comments Goldenstone CEO Eddie Ni. “We believe Roxe’s adherence to a compliant, robust strategy will make it a winner in this track.”