Following a $20 million capital elevate and reverse merger, digital finance firm Diginex's inventory has listed on the Nasdaq alternate beneath the
Following a $20 million capital elevate and reverse merger, digital finance firm Diginex’s inventory has listed on the Nasdaq alternate beneath the ticker EQOS.
Diginex is “the primary Nasdaq-listed firm that covers the total digital foreign money ecosystem,” Diginex CEO Richard Byworth advised Cointelegraph in an interview. “I believe that is massively vital for the event of the trade. Previous to this, you’ve got just about solely had publicity to direct crypto property through ETF-like constructions,” he stated, mentioning merchandise equivalent to these provided by Grayscale.
Diginex is the guardian of numerous completely different crypto and blockchain-focused entities, together with crypto alternate Equos, and Digivault — the corporate’s digital asset custody wing. Equos opened only recently, on July 30.
Diginex is concerned in lots of areas of the crypto and blockchain house and Byworth believes it represents a option to spend money on the general crypto house through the mainstream U.S. inventory market.
“Now you lastly have a picks and shovels commerce for the whole asset class.”
“Having that on the general public markets is massively differentiating,” he added. “It is a very nice publicity diversification for a portfolio that is targeted on this asset class.”
Again within the 1800s, Individuals flocked west in quest of gold, and wanted to purchase picks and shovels to unearth the valuable steel. Consequently, it was a safer guess to the personal choose and shovel corporations, which made super earnings throughout this period, slightly than to seek for gold itself, the outcomes of which have been much less constant. Diginex is sort of a modern-day choose and shovel firm, based on Byworth.
Along with its alternate, custody resolution, asset administration and multi-venue buying and selling platform, Diginex additionally boasts involvement with digital securities.
Diginex took an oblique strategy to going public as a listed firm, going via a special-purpose acquisition firm, or SPAC — a classification referring to “blank-check corporations which are fashioned for the aim of merging or buying different corporations,” as defined in a TechCrunch article.
Diginex merged with 8i Enterprises, a SPAC that’s already publicly traded. As of the reverse merger and itemizing immediately, 8i Enterprises Acquisition Company now goes by the identify Diginex. At present basically serves because the inaugural buying and selling day for EQOS, previously recognized beneath the ticker JFK (the corporate traded as 8i Enterprises earlier than the reverse merger).
Diginex’s public debut has been years within the making. Plans for the reverse merger hit headlines in July 2019. The U.S. Securities and Trade Fee, or SEC, gave the reverse merger and public Nasdaq itemizing a inexperienced gentle in February 2020.