Bitcoin project Roxom is preparing to launch a bitcoin
-denominated stock exchange.
The San Francisco-based project said the exchange will “reflect the Bitcoin white paper’s original vision of a global, permissionless store of value.”
The bitcoin treasuries exchange will allow BTC-denominated buying and selling of shares in companies with significant bitcoin holdings, such as Strategy (MSTR) and Metaplanet (3350).
Following the lead of these two companies, there has been a glut of publicly-listed firms building bitcoin treasuries in recent months. Just last week, three such companies raised a combined $278 million toward the goal of boosting their BTC holdings.
Roxom’s aim is to provide exposure to bitcoin using BTC treasury companies as a proxy, without the need to convert bitcoin or navigate brokerages.
The project raised $17.9 million in funding from Draper Associates, Borderless Capital, ego death and Kingsway Capital earlier this year, with which it began building a bitcoin treasury of its own. Roxom held 84.72 BTC ($9.9 million) as of May and has plans to acquire a further 30, which would take its treasury value to nearly $13.5 million.
Alongside its securities exchange, Roxom is also building a 24/7 media network dedicated entirely to bitcoin.
