Diginex, a blockchain solution provider based in Hong Kong, has announced the public launch of its new crypto derivative exchange EQUOS.io. The exchange will be based in Singapore rather than Hong Kong.
Diginex announced the news in a blog post published on Thursday, July 30th. According to Diginex, EQUOS.io is a next-generation crypto exchange built for professional traders and institutional investors and designed to improve the experience of trading digital assets for all market participants.
The launch of EQUOS.io is the result of a collaboration between Diginex and the UK-based software development company Endava Limited, which deployed various foundational components of the platform. The exchange’s offerings include cryptocurrency spot trading, perpetual swaps, dated futures, options, and other derivatives products to follow.
Neil Sheppard, COO of Financial Services at Diginex, said:
“Today’s announcement represents a critical milestone for Diginex as we progress towards our goal of facilitating the maturation of the digital asset class. EQUOS.io is designed to provide a single secure integrated trading venue that meets the needs of professional traders, with features such as segregation of sub-accounts and seamless USD/USDC integration at launch. We have a comprehensive roadmap of products and services aimed at both institutional and retail traders that will continue to differentiate the EQUOS.io platform as they roll out.”
The EQUOS is based in Singapore, where it is currently operating under an exemption to the Singapore Payment Services Act. To get the license, it has also applied for a Major Payment Institution license with the Monetary Authority of Singapore (MAS), in line with the Payment Services Act 2019.
Diginex said that it would combine its newly launched exchange with 8i Enterprises Acquisition Corp, the NASDAQ-listed (NASDAQ) special purpose acquisition company (SPAC). This acquisition of Diginex by the 8i Enterprises Acquisition Corp is expected to occur in the third quarter of 2020.
According to the Diginex, this acquisition includes Diginex group-wide businesses of EQUOS.io, digital asset trading technology platform Diginex Access, digital asset custody provider Digivault, and the investment management business Bletchley Park Asset Management. Upon completion, EQUOS will become the first digital exchange listed in the United States.
Richard Byworth, CEO of Diginex, commented:
“Our planned listing on Nasdaq is further testament to our commitment to compliance, regulation, and transparency, all of which are core principles of Diginex and are reflected in products such as EQUOS.io, which provides a fair and equitable platform for all participants.”
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