Bitcoin

Diginex starts trading its EQOS token on the Nasdaq

After a $ 50 million capital increase and reverse merger Shares in digital finance company Diginex are traded on the Nasdaq under the EQOS token.

Diginex is “First Nasdaq Listed Company Covering the Entire Virtual Currency Ecosystem.”said the Diginex CEO, Richard Byworth, to Cointelegraph in an interview. “I think this is extremely important for the development of the industry. Before that, I was practically only exposed to direct crypto assets through ETF-like structures. “he said, mentioning products like Grayscale’s.

Diginex is the parent company of various companies focused on cryptocurrencies and blockchain, including Crypto Exchange Equos and Digivault, the company’s digital asset custody wing. Equos recently opened on July 30th.

Diginex starts trading its EQOS token on the Nasdaq
Diginex starts trading its EQOS token on the Nasdaq

Diginex is active in many areas of the crypto and blockchain space, and Byworth believes this is a way to invest in the broader crypto space through the American stock market.

“Now you finally have an asset-class pick-and-drop exchange.”

“Having that in public markets is a huge differentiation.”added. “It’s a really nice diversification of exposure to a wallet that is focused on this asset class.”

In the 19th century, Americans flocked west in search of gold and had to buy picks and shovels to expose the precious metal. As a result, it was a safer bet for the pick-and-shovel companies themselves, which were making tremendous profits during this time, than opting for gold itself, the results of which were less consistent. Diginex is like a modern day pick-and-shovel company, according to Byworth.

In addition to its exchange, custody solution, asset management and multi-site trading platform Diginex is also involved in digital stocks.

The company took an indirect approach to going publicPassed to a special purpose vehicle, or SPAC, a classification that refers to “blank check companies formed for the purpose of merging or acquiring other companies,” as explained in a TechCrunch article.

Diginex merged with 8i Enterprises, a SPAC already listed on the stock exchange. As of today, the reverse merger and listing 8i Enterprises Acquisition Corporation is now called Diginex. Today is essentially the first day of trading for EQOS, formerly known as JFK tokens (the company traded as 8i Enterprises prior to the reverse merger).

Diginex’s public debut has been in the works for years. The plans for the reverse merger reached the owners in July 2019. The US Securities and Exchange Commission (SEC) gave the green light for the reverse merger and listing of Nasdaq in February 2020.

Similar Posts