Digital Assets: Digital Assets Exchange Equos To Trade on Nasdaq
Equos is a digital exchange operated by the Diginex Group, soon to merge with a SPAC.
Digital assets exchange Equos is an institutional-grade exchange that caters to both individuals and institutions. It launched on July 30 and is currently live (screenshot above) for trading cryptos on a spot basis. It has plans to offer derivatives in due course of time. Meanwhile, it is likely to take the honors to be the first crypto exchange to list on a U.S. exchange. (Coin Telegraph)
Soon to trade on the Nasdaq via a backdoor listing
Hong-based Diginex Group, the owner of Equos, will merge with Singapore-based 8i Enterprises Acquisition Corp (NASDAQ: JFK), a Nasdaq-listed special-purpose-acquisition-company (SPAC). Diginex is a blockchain financial services and technology company.
SPACs are all the rage now. Bill Ackman made the latest splash via his Pershing Square Tontine Holdings Ltd (NYSE: PSTH.U) vehicle.
Diginex’s merger with 8i is likely to complete by the third quarter of 2020. The merger will encompass 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.
Equos will provide interoperability with Diginex’s over-the-counter trading desk, Diginex Access, a front-to-back integrated trading platform, and Digivault, the group’s pioneering hot and cold custodian.
The spot exchange is currently operating under an exemption to the Singapore Payment Services Act.
Neil Sheppard, COO of Financial Services at Diginex said: “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.”
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