Goobit Group acquires the assets of BTCSWE


Goobit Group, Sweden's leading provider of cryptocurrency services, has acquired the assets of Snowbank AB (BTCSWE), a well-established Swedish bitcoin exchange service registered with the Financial Supervisory Authority (Finansinspektionen). The acquisition includes BTCSWE's brand, technology, and customer base, which will be integrated into Goobit Group's operations.

BTCSWE is established as a reliable bitcoin exchange service with a strong brand and over 5,000 registered users, offering an easy-to-use platform for buying and selling bitcoin. The acquisition of BTCSWE will enable Goobit Group to integrate its technology and expertise into their existing cryptocurrency services, allowing the company to offer a broader range of products and services to its customers.

The acquisition of the assets in BTCSWE is of strategic importance to Goobit Group, but is not expected to have a significant impact on Goobit Group's short-term income. In the medium and long term, the platform's brand and market positioning are expected to generate increased revenues and trading volumes for the company. The purchase price amounted to 1.0 MSEK and is paid with newly issued shares at a price of SEK 0.42 per share which corresponds to ten (10) days of volume-weighted average price (VWAP) in the Company's share. The transaction is planned to be completed following customary due diligence during the month of June this year.

The acquisition of BTCSWE's assets will further strengthen Goobit Group's position as a major player in the cryptocurrency market in Sweden and aligns with the company's strategy to consolidate the market in the Nordics. It demonstrates the company's commitment to expanding its offerings, providing innovative solutions for its customers, and promoting growth throughout the Nordic region.

"We are very excited to announce the acquisition of BTCSWE, which will strengthen our position as a leading provider of bitcoin services in the Nordic market," says Christian Ander, CEO of Goobit Group. "The deal will enable us to serve our existing customers even better and offer a secure and experienced provider for BTCSWE’s customers. This aligns with the company's strategy to offer our customers a safe product by further investing in bitcoin, which is the largest and most established cryptocurrency."

"We are delighted to join forces with Goobit Group," says Christopher Eriksson, CEO of BTCSWE. "We believe that the combination of our expertise and marketing with Goobit Group's technology and capacity will create a strong platform for growth and innovation.”

For further information, please contact:
Christian Ander, VD, Goobit Group AB

Certified Adviser:
Eminova Fondkommission AB | 08-684 211 10 |

About BTCX / Goobit Group
Goobit AB was registered in 2012, is one of the world's first, and Sweden's leading crypto exchange companies. The company offers exchange services from SEK and EUR to the virtual currency’s Bitcoin and Ether, and has so far exchanged over 2.0 billion SEK. The company's best-known brands are BTCX Express and Standard BTCX. In addition to exchange, the company also offers services in anti-money laundering (AML), through AML Desk, and compliance for virtual currencies and digital assets. Goobit Group AB (publ) was registered in 2013 and includes the fully owned subsidiaries Goobit AB, Goobit Blocktech AB and Goobit Exchange AB. Goobit AB services are aimed at private individuals, corporate customers and financial institutions.

For more information, see Goobit's website

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