{"id":128059,"date":"2022-06-29T13:03:37","date_gmt":"2022-06-29T13:03:37","guid":{"rendered":"https:\/\/fin2me.com\/?p=128059"},"modified":"2022-06-29T13:03:37","modified_gmt":"2022-06-29T13:03:37","slug":"blockchain-payment-firm-roxe-set-to-go-public-via-3-6-bln-spac-deal","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/blockchain-payment-firm-roxe-set-to-go-public-via-3-6-bln-spac-deal\/","title":{"rendered":"Blockchain Payment Firm Roxe Set To Go Public Via $3.6 Bln SPAC Deal"},"content":{"rendered":"
Blockchain payment company Roxe Holding, Inc. is set to become a publicly listed company through an approximately $3.6 billion business<\/span> combination deal with Goldenstone Acquisition Ltd., a publicly traded special purpose acquisition company or SPAC. Roxe will list soon on the Nasdaq Stock Market.<\/p>\n Roxe, a blockchain-based open payments network, aims to build a global trusted community that includes the entire financial ecosystem: individuals, banks, central banks, non-bank financial institutions, businesses, and merchants through its multilateral payment channel.<\/p>\n Its blockchain offers a multilateral payment channel that supports multiple assets including currency, gift cards, gaming coins, loyalty rewards, stocks, cryptocurrencies, and CBDC.<\/p>\n To date, 44 global partners use Roxe’s global payment community. These partners enable their B2C and B2B customers to send and receive payments from 113 countries around the world. Roxe empower users to streamline payments, financial transactions and value exchange across the globe.<\/p>\n Under the deal, Roxe will merge with a wholly-owned subsidiary of Goldenstone which will be renamed as “Roxe Holding Group Inc.” It is expected that Roxe stockholders will roll 100 percent of their equity into the combined company.<\/p>\n The transaction, subject to approval by Goldenstone and Roxe stockholders, is expected to close in first quarter of2023. It is also subject to other closing conditions, including regulatory approvals.<\/p>\n SPAC deals have become more common in recent years as a faster IPO process with less worry about the swings in broader market sentiment. SPAC is a shell corporation listed on a stock exchange with the purpose of acquiring a private company to enable it to go public without going through the grinds of the traditional IPO process.<\/p>\n Last year, digital asset marketplace Bakkt Holdings, LLC went public through a business combination deal with VPC Impact Acquisition, a publicly traded SPAC. It began trading on the NYSE under the ticker symbols BKKT.<\/p>\n Earlier, crypto firm Circle became a publicly listed company through a $4.5 billion business combination deal with SPAC Concord Acquisition. <\/p>\n