Aker ASA

Aker ASA Sets up Company to Invest in Bitcoin

After the influx of top US companies investing in Bitcoin, it appears the rest of the world is beginning to catch up to it as news have emerged that top Norwegian holding company Aker ASA has said that it will establish a new unit of its operation which will be dedicated to Bitcoin investment and its underlying technology. This was made known by a press statement released by the firm earlier today. 

According to the announcement, Aker ASA will not only be investing in the leading crypto asset, it would be setting up a new unit named “Setee AS” which would be focused on actively participating in the crypto industry while also collaborating with other players in the field. The new firm would also have the duty of investing in companies that are helping the blockchain and crypto industry grow apace.

Aker ASA went on to disclose that it would be converting all of its liquid assets into Bitcoin. Not only that, its new unit would have a capital of around $60 million to start with and part of its goal would be to carry out research works and find alternative means through which Bitcoin transactions can be verified.

Interestingly, Setee AS first collaboration in the space is with Blockstream, a leading Canadian firm in the crypto space. Øyvind Eriksen, the President of Aker ASA says,

With the launch of Seetee, the Aker Group makes another move into software and fintech. We are very excited about the industrial opportunities that will be unlocked by Bitcoin and blockchain technology, and want to contribute forcefully to that effort. These technologies have the potential to reduce frictions in our day to day lives, enhance the security of our digitally driven economies, and unlock new business models for innovation. We look forward to addressing these and other applications together with Blockstream and other partners.

You will recall that we reported that a leading Chinese company, Meitu, also recently invested in the two leading crypto asset recently.

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