Centralized Exchanges · Review
ActiveNBX Review 2026: Norway's MiCA-Regulated, Listed Exchange
NBX is a Norwegian centralized crypto exchange, listed on Euronext Growth Oslo and MiCA-authorized by Finanstilsynet. It suits Nordic users who want to trade in kroner under local regulation, but its fees are not stated in the sources reviewed.
By the DappsAtlas editorial team · Updated
DappsAtlas score
7.4/10
Good
Our verdict on NBX
7.4/10NBX is a reasonable choice for Norwegian and Nordic users who want a locally regulated exchange with kroner deposits, recurring buys and tokenized gold. Its main strength is regulatory and corporate transparency: MiCA authorization, a public listing and a Proof of Reserves page. The main caveat is that the fee schedule is not published in the sources reviewed, and custody remains centralized, so check costs and keep only what you are comfortable holding on an exchange.
Score breakdown
How NBX scores
- Security
- 7.5/10
- Ease of use
- 8.0/10
- Fees
- n/a
- Features
- n/a
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is NBX?
NBX, short for Norwegian Block Exchange, is a centralized crypto exchange based in Norway. It describes itself as the country's first publicly listed crypto exchange, trading on Euronext Growth Oslo, and says it is MiCA-authorized by Finanstilsynet.
The platform lets users buy and sell Bitcoin, Ethereum, Cardano, Solana and 20+ other assets using Norwegian kroner, with pairs in SEK, DKK and EUR as well. It also offers tokenized gold and silver, a USDM stablecoin, recurring buys, staking, and an OTC desk with custody for business clients.
The homepage cites 90K+ customers, 3B+ NOK in trading volume and a first trade in 2020. These are company claims. DefiLlama tracks NBX in its CEX category since 2022 with about $8.7M in TVL, a figure that jumped sharply in a week and is not a reliable gauge of size.
How NBX works
NBX is a centralized exchange. Users open an account, verify their identity, deposit kroner or pay by card, and trade against an order book or buy directly. The company holds customer assets in custody, which it says is insured.
Because it is a regulated crypto-asset service provider under MiCA, it follows AML rules and Norwegian oversight. The homepage also says NBX publishes financial statements as a listed company and has a Proof of Reserves page.
Beyond spot trading, NBX offers recurring buys, tokenized gold and silver, a USDM stablecoin, staking, and an OTC desk for larger clients. A referral program rewards invited customers.
7 features
Key features
01
NOK trading pairs
Deposit and trade directly in Norwegian kroner, with pairs also available in SEK, DKK, EUR and the USDM stablecoin.
02
Recurring buys (DCA)
Weekly or monthly automatic buys of Bitcoin, Ethereum or gold, plus an Advanced DCA product.
03
Tokenized gold and silver
NBX offers fractional tokenized gold and silver, described as physically backed, alongside its crypto assets.
04
OTC desk and custody
An over-the-counter desk for larger trades, with insured custody and a dedicated account manager for business clients.
05
Order book and card buys
A full order book with 20+ assets, plus card purchases for beginners.
06
USDM stablecoin
NBX lists a USDM stablecoin and a whitepaper page for it, as part of its Nordic product range.
07
Staking and reserves page
The homepage lists a Staking section and a Proof of Reserves page, though details are not in the text reviewed.
Pros and cons
What we like
- MiCA authorization by Finanstilsynet, as stated by NBX
- Listed on Euronext Growth Oslo, with public financial statements
- Direct NOK deposits and trading with no conversion fees, per the homepage
- Recurring buys, OTC desk, staking and tokenized gold and silver in one place
- Insured custody and a Proof of Reserves page are listed
- Support in Norwegian and English from staff in Oslo
Watch out for
- Fee schedule is not published in the material reviewed, so costs cannot be compared up front
- Aimed at Norwegian and Nordic users; BankID verification is the highlighted onboarding path
- Small company: the homepage lists 19 employees, which may matter for resilience and support depth
- Centralized custody means users rely on NBX and its insurer rather than holding their own keys
- No NBX token or on-chain audits are listed, and DefiLlama shows zero audits for this entry
- DefiLlama TVL moved sharply (+543.6% in 7 days), so that figure is not a stable measure of size
NBX fees
NBX describes its pricing as simple and transparent, with competitive fees and no hidden spreads, but the sources reviewed do not publish a fee schedule. It does say there are no conversion fees when depositing and trading in Norwegian kroner.
Users should check the fee and execution policy pages on the NBX site, and the price shown at checkout for card purchases, before trading. Fees for OTC trades, staking and withdrawals are not stated here.
Is NBX safe?
NBX is a custodial exchange, so users trust the company with their assets. It states that it is MiCA-authorized by Finanstilsynet, registered with the Norwegian FSA, listed on Euronext Growth Oslo, and that custody is insured. The insurance provider and coverage terms are not given in the material reviewed.
No smart-contract audits are listed by DefiLlama, and none are relevant to a centralized exchange in the usual sense. The homepage points to a Proof of Reserves page and a Cyber Security page, which readers should consult. No hacks or incidents appear reviewed. As with any exchange, do not keep more funds there than you are willing to leave with a third party.
7 steps
How to get started with NBX
- 1
Check that NBX serves your country and that using a regulated exchange is permitted where you live.
- 2
Create a free account on the NBX website or app; the homepage says it takes under 3 minutes.
- 3
Verify your identity, using Norwegian BankID if you are eligible.
- 4
Fund the account by card or by depositing Norwegian kroner.
- 5
Review the fee and execution policy pages before placing a first order.
- 6
Buy a first asset, or set up a weekly or monthly recurring buy.
- 7
Consider your custody plan and enable the available security settings.
Who NBX is for
NBX suits Norwegian and Nordic residents who want to buy crypto in kroner through a locally regulated, publicly listed company, as well as DCA savers and businesses needing OTC trading and custody. Users who want self-custody or a broad global altcoin selection may prefer other options.
NBX FAQs
Is NBX regulated?
NBX says it is MiCA-authorized by Finanstilsynet, the Norwegian financial supervisor, and licensed as a crypto-asset service provider. It also says it is registered with the Financial Supervisory Authority of Norway. Check the regulator's register if you need to confirm the current status.
Which assets can I trade on NBX?
The homepage lists BTC, ETH, SOL, USDC, XRP, ADA, AVAX, XLM, LINK, LTC, ATOM, DOGE, POL, ALGO and others, plus tokenized gold (FGLD), tokenized silver (FSLVR) and the USDM stablecoin. It describes the lineup as 20+ assets.
Can I buy crypto with Norwegian kroner on NBX?
Yes. The homepage says you can deposit and trade directly in Norwegian kroner and that there are no conversion fees or detour via USD. Pairs in SEK, DKK and EUR are also listed.
Does NBX support recurring purchases?
The homepage describes automatic recurring buys, weekly or monthly, for assets such as Bitcoin, Ethereum and gold. It also mentions Advanced DCA as a product.
Is my crypto safe on NBX?
The homepage says NBX offers insured custody and publishes a Proof of Reserves page. Insurance terms and coverage limits are not described in the text reviewed, so read the details on the site. Custody is still centralized, so counterparty risk remains.
Does NBX have a referral program?
The homepage says it has a referral program: 200 NOK in BTC for the referrer and 75 NOK for each new customer referred, with terms applying. Read the referral terms before relying on it.
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How we checked
Sources
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