Layer 2 protocol nahmii announces partnership with a Norwegian crypto exchange

Layer 2 protocol nahmii announces partnership with a Norwegian crypto exchange

Nahmii, a second-layer scaling solution built for the Ethereum blockchain, recently announced that Norwegian Block Exchange (NBX) will become the first member of the nahmii Foundation.

The goal of the project is to improve Ethereum’s capabilities for small and large-scale commercial use. It aims to increase Ethereum’s transactions per second from 15 to beyond the scalability of fiat payment processors like Visa. The team at nahmii also plans to launch commercially-viable scaling to other blockchains, such as Bitcoin (via RSK) and Libra.

In order to move the adoption of the nahmii protocol forward, hubii AS (the creators of nahmii) established the nahmii Foundation. This organization is responsible for key activities related to nahmii protocol governance, including determining transaction fees. The nahmii Foundation will also hold 20 percent of the nahmii (NII) token supply.

Norwegian Air Shuttle, Scandinavia’s largest airline and Europe’s third-largest budget airline, is launching NBX to provide customers with new payment processing services. With every trade on NBX, users will be able to earn CashPoints that can be redeemed for flight discounts as part of Norwegian Air Shuttle’s loyalty program.

Bjørn Kjos, founder of Norwegian Air Shuttle, views crypto as much more than a novelty. Kjos envisions cryptocurrencies and blockchain technology as potential disruptors of legacy financial systems as well as sources of innovation for the air travel sector and the travel industry as a whole.

Currently, the NBX website has a signup list for those interested in becoming the exchange’s first users. At launch, NBX will provide a means of trading crypto-to-crypto. Later on, it will introduce fiat-crypto trading.

NBX and nahmii Partnership

Stig Aleksander Kjos-Mathison, Managing Director of NBX, said the exchange is excited to be a founding member of the nahmii Foundation and that NBX shares the same vision as hubii AS.

“Our aim is to make cryptocurrency a part of daily life, which isn’t possible without innovations to the scalability and speed of blockchain transactions. What hubii have built makes the Ethereum network viable for the kind of volume needed for crypto trading and, even more importantly, accepting and settling payments. The potential for commercial application is finally realizable. We look forward to helping hubii realize their — and our — shared vision, and making nahmii a success.”

Jacobo Toll-Messia, CEO of hubii AS, also commented on the partnership:

“We’re delighted to welcome NBX to the nahmii Foundation. They are a forward-looking, pioneering business that is already making some impressive connections.”

Toll-Messia said that, while NBX is the first partner to join the nahmii Foundation, hubii AS has other new partners already lined up. Information regarding additional foundation members will be released soon.

Filed Under: Crypto Exchanges, Ethereum, Partnerships
Mitchell Moos

Mitchell is a software enthusiast and entrepreneur. In addition to writing, he runs a non-profit that teaches people about the blockchain. In his spare time he loves playing chess or hiking.

View author profile

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.