Roxom Global, an Argentine project to launch the first stock exchange that operates on Bitcoin (BTC), is making progress with the aim of forming a 100% backed Treasury Ministry with digital assets.
The company announced it I got 52.65 BTC using some of the capital I got from the funding roundwhich began in July 2024 and completed on May 22nd, with an average price of around $76,300 per unit. In the short term, the company plans to add 30 more BTC to the Ministry of Finance. If completed, the booking will exceed $12 million and refer to the current price of $1111,000 per Bitcoin.
In this way, Roxom Global follows the strategy steps (previously micro-strategic) that Michael Saylor is currently leading. To do this, Saylor designed a mechanism consisting of issuing obligations through convertible bonds, increasing the reserves without relying on operating income. Currently, the Treasury stock market with the largest bitcoin in its Ministry of Finance is quoted at a total of 582,250 BTC.
According to data from Bitcoin Treasuries, Roxom has accumulated a total of 98.08 BTC in his Treasury Department. Furthermore, according to your records, It is the second Argentine company to acquire Bitcoin to support its reservations. The first one to do so was Mercado Libre in 2021, an e-commerce store with a total of 570.4 BTC.
As Cryptonoticias reports, the Roxom project is led by two Argentinas. ExchangeLemon co-founder Borja Martel Seward is not part of the company.
Regarding the funding round, Roxom explained that it would raise a total of $17.9 million, of which $7.9 million will be allocated to the Roxom Exchange, the Exchange platform and 10 million people. Among the investors are Draper Associates, Capital Borderless, Ego Death, and Kingsway’s capital.
This capital injection, roxom Advances in the construction of platforms that promise to provide cash, futures and synthetic productseverything is called and settled in Bitcoin. In other words, companies listed on Roxom may distribute dividends or issue bonuses called BTC. “Get stocks, raw materials, etc. with BTC. Buy and sell traditional assets cited in Bitcoin. No conversions. No bank delays. Only Bitcoin native management,” he stands out on the website.
In this regard, Martel Seward said the platform’s purpose is to “introduce Bitcoin standards into global finances.” In that sense, he added: “Every coin in the world has a market. Dollar has Wall Street and English Libra, known as the City of London. However, due to its neutrality and lack, Bitcoin, the world’s next base currency, has yet to develop on its own.
The website is operational, but transactions are not yet available and can only be operated in a simulated environment. In other words, users are in beta where they can comply with the BTC price of US market stocks.
The platform is available in Latin America, Europe, the Middle East, North Africa and Asia. At this time, there are no plans to operate in the US yet due to persistent regulatory uncertainty in that market.
Roxom TV is a communications tool that operates 24/7, providing real content in the Bitcoin market and cryptocurrency. The channel will be sent via X, Twitch, Rumble, Kick and Dlive and there are plans to expand to Tiktok, Instagram, LinkedIn Live and Facebook Live. Additionally, he is conducting research in San Francisco and London, and is preparing for a launch in Hong Kong in the third quarter of this year.