"The Nordic crypto company Arcario, which is publicly listed in Sweden, is now out of Bitcoin mining and various portfolio companies and is focusing 100% on the crypto broker K33 in Norway.” This was stated by the CEO of Arcario and K33, Torbjørn Bull Jenssen, during a live event this week.
Bull Jenssen was interviewed by Morten Myrstad, editor forKaupr.io, as a concluding part of a live broadcast titled “State of Crypto”.
The video interview is in English, but the article text is available in both Norwegian and English.
"Arcario is now 100% focused on K33, which is in turn fully dedicated to serving end clients while laying the groundwork to become a partner for traditional finance," Bull Jenssen said. “We have been trying to find our way in a crypto industry that moves very rapidly, and we have ultimately landed on K33. K33 is, quite simply, a brokerage and exchange service for trading cryptocurrency, with a strong focus on custody, market analysis, and assistance for those who need support."
Bull Jenssen also stated that Arcario has now fully exited the mining business. “Mining turned out to be a disaster,” he said, while still defending mining in principle. He emphasized that the war in Ukraine, combined with higher energy prices and political opposition in Norway, made the business unprofitable. “But it was a very deliberate bet,” he added.
Bull Jenssen stated that K33 is now primarily working with larger clients and family offices. Without sharing specific number - since Arcario will deliver its quarterly report on November 7 - he still revealed a trend: “We have seen multifold growth in activity from our clients.”
Bull Jenssen also suggested that the MiCA EU regulation, which comes into force in December, will be a “trigger.” - It clarifies the regulatory regime for cryptocurrencies and also opens the doors for banks, so they can participate without having to have their own crypto licenses.
The Arcario/K33 CEO was also asked about the relationshipwith traditional finance and fintech. “Our goal is to be a preferred partner for the traditional finance industry." “We are working closely with banks and fintechs, actively collaborating on the drawing board,” he said. “The earliest partnerships are expected to launch closer to summer next year. But this is a long-term endeavor, focused on building relationships, knowledge, and trust.”
These are some of the topics covered in the video interview:
- What is K33 now?
- What is Arcario now?
- How much have you lost on mining?
- A bridge to traditional finance?
- MiCA as a “trigger”
- K33's road map
- The Future of Cryptocurrency and Fintech?
"The Nordic crypto company Arcario, which is publicly listed in Sweden, is now out of Bitcoin mining and various portfolio companies and is focusing 100% on the crypto broker K33 in Norway.” This was stated by the CEO of Arcario and K33, Torbjørn Bull Jenssen, during a live event this week.
Bull Jenssen was interviewed by Morten Myrstad, editor forKaupr.io, as a concluding part of a live broadcast titled “State of Crypto”.
The video interview is in English, but the article text is available in both Norwegian and English.
"Arcario is now 100% focused on K33, which is in turn fully dedicated to serving end clients while laying the groundwork to become a partner for traditional finance," Bull Jenssen said. “We have been trying to find our way in a crypto industry that moves very rapidly, and we have ultimately landed on K33. K33 is, quite simply, a brokerage and exchange service for trading cryptocurrency, with a strong focus on custody, market analysis, and assistance for those who need support."
Bull Jenssen also stated that Arcario has now fully exited the mining business. “Mining turned out to be a disaster,” he said, while still defending mining in principle. He emphasized that the war in Ukraine, combined with higher energy prices and political opposition in Norway, made the business unprofitable. “But it was a very deliberate bet,” he added.
Bull Jenssen stated that K33 is now primarily working with larger clients and family offices. Without sharing specific number - since Arcario will deliver its quarterly report on November 7 - he still revealed a trend: “We have seen multifold growth in activity from our clients.”
Bull Jenssen also suggested that the MiCA EU regulation, which comes into force in December, will be a “trigger.” - It clarifies the regulatory regime for cryptocurrencies and also opens the doors for banks, so they can participate without having to have their own crypto licenses.
The Arcario/K33 CEO was also asked about the relationshipwith traditional finance and fintech. “Our goal is to be a preferred partner for the traditional finance industry." “We are working closely with banks and fintechs, actively collaborating on the drawing board,” he said. “The earliest partnerships are expected to launch closer to summer next year. But this is a long-term endeavor, focused on building relationships, knowledge, and trust.”
These are some of the topics covered in the video interview:
- What is K33 now?
- What is Arcario now?
- How much have you lost on mining?
- A bridge to traditional finance?
- MiCA as a “trigger”
- K33's road map
- The Future of Cryptocurrency and Fintech?
