Nayapaisa: NBX and Aprikos Venture applies to PVARA for a No Objection Certificate
Oslo, 9 November 2026: Norwegian Block Exchange AS (NBX) and Aprikos Venture AS have signed the joint venture agreement for Nayapaisa (Private) Limited (proposed), a digital asset exchange the two companies plan to establish in Pakistan. It follows the letter of intent NBX announced on 11 March 2026.
The application for a No Objection Certificate (NOC) for Nayapaisa was filed with the Pakistan Virtual Assets Regulatory Authority (PVARA). The application will now be reviewed by PVARA. The NOC is the first step in PVARA's licensing process for virtual asset service providers. Nayapaisa will not offer services to customers in Pakistan before PVARA has granted the NOC and the licence that follows it. Nayapaisa plans to operate a digital asset exchange for customers in Pakistan, with deposits and withdrawals in Pakistani rupees through licensed Pakistani banks.
"Pakistanis already use digital assets at scale, mostly outside any platform licensed in Pakistan. Nayapaisa is applying to be a licensed alternative, with a local team in Pakistan," said Jamil Rehman, proposed CEO of Nayapaisa and chairman of Aprikos Venture.
Pakistan has 241 million people, according to the 2023 census by the Pakistan Bureau of Statistics. Chainalysis ranked Pakistan third of 151 countries in its 2025 Global Crypto Adoption Index, behind India and the United States. Until PVARA was set up, no licensing regime for digital asset exchanges existed in Pakistan.
Jamil Rehman, chairman of Aprikos Venture, is proposed chief executive officer, and a compliance officer has been named. Nayapaisa will appoint a chief financial officer, a money laundering reporting officer and an information security officer before it applies for the licence. An internal auditor has been proposed. Stig Kjos-Mathisen, CEO of NBX, is proposed chairman.
NBX and Aprikos Venture will own Nayapaisa 50/50 through Horizon Markets AS, a Norwegian holding company under incorporation. NBX contributes the exchange technology it built and operates in Norway, and the governance framework it runs as a regulated company there. Aprikos Venture leads the local corporate structure, the dialogue with PVARA and operations in Pakistan.
"It is great to see that the time, money and effort the NBX team has invested to build our platform now opens new possibilities for the company and our owners in new markets, and Pakistan is one of the most exciting markets currently outside of Europe," said Stig Kjos-Mathisen, CEO of Norwegian Block Exchange.
Nayapaisa: nayapaisa.pk
For further information, please contact:
Stig Aleksander Kjos-Mathisen, CEO, Norwegian Block Exchange AS Stig.aleksander.kjos-mathisen@nbx.com / +4793287572 Jamil Rehman, Chairman, Aprikos Venture AS jamil@aprikosventure.com / +47 986 91 760
About Norwegian Block Exchange (NBX)
Founded in 2018, Norwegian Block Exchange (NBX) is a regulated cryptocurrency exchange serving the Nordic market. Licensed in Norway, NBX offers secure trading of digital assets, custody solutions, and blockchain technology services for retail and institutional clients. The company issued the first credit card in the world with BTC cashback.
About Nayapaisa
Nayapaisa (Private) Limited (proposed) is to be incorporated in Pakistan after the NOC. It plans to operate a licensed digital asset exchange for customers in Pakistan. Norwegian Block Exchange AS and Aprikos Venture AS will own it 50/50 through Horizon Markets AS. More at nayapaisa.pk.
About Aprikos Venture AS
Aprikos Venture AS is a Norwegian venture firm focused on building and scaling companies within the fintech and healthtech sectors. The firm combines technology development with cross-border execution.