Diginex, a collaborative blockchain-based financial and tech firm, announced its new digital asset exchange, Equos.io, set to become the first publicly traded crypto exchange in the U.S. The official announcement on Wednesday states the exchange will kick off trading spot markets with the integration of perpetual swaps, and other derivatives set to be built shortly.
According to the statement, EQUOS.io will provide an institutional-grade platform that allows both the big players and typical traders to purchase the emerging digital asset market publicly.
8i Enterprises Acquisition Corp acquires Diginex
To list on the most significant tech market in the world, NASDAQ, Diginex has been acquired by 8i Enterprises Acquisition Corp, a NASDAQ-listed a special-purpose acquisition company (SPAC). SPAC are companies that help newer companies launch on a public exchange through a ‘backdoor,’ reducing the cost and time compared to traditional listing methods.
— Diginex (@DiginexGlobal) July 30, 2020
According to Diginex CEO Richard Byworth, the acquisition is set to be completed by the end of the third quarter this year, opening up Equos.io as the first-ever publicly traded digital asset exchange in America.
“This is a pivotal moment for us to launch EQUOS.io ahead of our transaction with 8i Enterprises Acquisition Corp,” Byworth said.
“We are proud to deliver EQUOS.io, an exchange for virtual currencies and digital assets that challenges everything we have witnessed in the early growth of this industry.”
The acquisition will see 8i Enterprises Acquisition Corp take over operations in Diginex group-wide businesses of EQUOS.io, including the crypto exchange, custody services, and its investment management business, Bletchley Park Asset Management (BPAM).
The digital asset exchange will offer a fully functioning spot market with plans to launch a perpetual swap, dated futures, options, and other derivatives products to follow. The exchange also integrated the Diginex OTC trading desk, DigiAccess, and users’ funds will be stored in the firm’s DigiVault, which provides both cold and hot wallets.
Equos.io digital exchange not in the U.S.?
While available as a publicly-traded company in the U.S., Equos.io is not physically stationed or available in the U.S. Diginex filed an application for a Major Payment Institution license to the Singapore regulator, the Monetary Authority of Singapore, in line with Singapore’s progressive digital asset regulation, the Payment Services Act 2019.
Equos.io’s spot exchange is currently operating under a temporary exemption to the Singapore Payment Services Act. On why they chose to list on the NASDAQ exchange, Byworth said,
“The Nasdaq listing is more about the credibility and trust.”