Sonla acquires BLOX Stake worth US$5 million and selects BLOXChain as the tech backbone of its exchange platform.

July 7, 2022

As a decentralized autonomous organization (DAO) registered in Wyoming, United States, BLOX operates democratically: Individuals or organizations who purchase a stake in the BLOX DAO can contribute to the vision and direction of the organization through voting.

Many individuals and organizations who acquire a BLOX stake are naturally interested in participating in the future of BLX due to the blockchain’s rapid growth in the last year. Several major organizations have adopted BLOXChain as their tech backbone or as their core technology, including investment firms, such as JCash; BrandNation.io, an influencer marketing agency; and Coexstar, a licensed cryptocurrency exchange based in Asia, to name a few.

As a result of this traction, Sonla, a Private Limited Company based in Lithuania, also known as UAB Sonla, has purchased a total of US$5 million worth of BLOX Stake, or roughly US$4.00 or BTC 0.00019 per stake. As part of the deal, Sonla will assign and appoint key members of its management team to serve as officers of the BLOX DAO and they will be stationed in the United States.

Chris Aldaba, a managing partner of Sonla, said that he convinced the organization’s board members and investment teams to become part of BLOX DAO as soon as possible due to its incredibly feature rich blockchain that can serve markets and regions immediately.

“What drew Sonla’s interest in BLOX was its accessibility, simplicity, and utility. People were not only acquiring BLOX as a retail investment but also applying it for their personal or business use. There is a strong, top-down thrust from businesses to use BLOX as their tech backbone. We think that this enterprise impetus will drive the growth of the blockchain, and it’s one that Sonla will itself try via its cryptocurrency platform,” said Aldaba.

As Aldaba mentioned, Sonla has a cryptocurrency exchange license for the European and international market. To fulfill this license, Sonla will be leveraging xCoin.net as its exchange and ecommerce platform, one which will allow even deeper collaboration between Sonla and BLX.

xCoin will provide three servicing products globally: CEX (centralized exchange), DEX (decentralized exchange), and an online retail store.

xCoin’s CEX service will operate competitively against larger exchanges in Europe and around the world.

xCoin’s DEX service will leverage the BLX blockchain by tokenizing all major cryptocurrencies in the market and creating a more cost effective peer-to-peer (P2P) community exchange for its group of pooled users.

xCoin.net’s online retail store for users will enable them to directly purchase cryptocurrencies and non-fungible tokens through an Amazon-like shopping experience. This store will provide simple and low cost access to participate in the web3 and digital economy from anywhere in the world. Sonla, BLX, and xCoin’s collaboration is truly a future friendly and future ready partnership that will impact the growth of web3.

Given the key benefits of its accessibility, efficiency, security, cost efficiency, and transparency that come with using BLX, xCoin.net will also be listing BLX, BLOX DAO Stake, and the native token of Players Elite Guild, PEG

Jay Anonuevo, a co-founder of BLX, is proud to partner with Sonla for these collaborations, given its central location in the heart of Europe.

“BLX has experienced significant traction in certain regions, such as Southeast Asia. Europe is of course a major market for not only innovation in general but fintech in particular. The partnership with Sonla through the BLOX DAO will serve as an inroads into Europe: With this base, we can accelerate our consumer and enterprise traction in the region,” said Anonuevo.