Blockchain payments company Roxe eyes public listing via SPAC

Quick Take

  • Blockchain payments infrastructure company Roxe has announced plans to list on the Nasdaq via a SPAC called Goldenstone Acquisition. 
  • The company says it will be valued at $3.6 billion after the merger. 

Roxe, a blockchain payments infrastructure company, has announced its intention to list on the Nasdaq via a special purpose acquisition company (SPAC) called Goldenstone Acquisition. 

The company, which aims to connect banks, payment firms and consumers with a private blockchain to facilitate cross-border transactions, will be valued at $3.6 billion after the merger, according to a statement on Tuesday. Stockholders in the company will roll 100% of their equity into Goldstone with no minimum cash requirement. 

"This is an important milestone for Roxe. Our merger with Goldenstone will augment our ability to accelerate our growth and empower users to streamline payments, financial transactions and value exchange across the globe," said Roxe CEO Josh Li in the announcement.

Whether the deal will clear or not, however, remains subject to approval by Goldenstone stockholders and compliance with Securities and Exchange Commission requirements. 


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This move stands in direct contrast to the current volatility plaguing the crypto market. Over the weekend, bitcoin dropped below $20,000 amid a border market downturn with companies such as Babel Finance and BlockFi taking steps to shore up their finances.

Public companies in the crypto sector are similarly also facing drops in valuation. Last week, shares of brokerage Robinhood slumped to a new low, taking its market value below the value of the cash on its balance sheet. Similarly, crypto exchange Coinbase also suffered a 5% drop in its share price after it announced that 18% of staff would lose their jobs. 

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Tom is a deals reporter at The Block covering venture capital, fundraises, fintech and M&A. Before joining, he was an editorial intern at the FT-backed platform Sifted where he reported on neobanks, payment firms and blockchain startups. You can reach him by email at [email protected] or Telegram @tommatsuda.