Diginex, the Singapore-based operator of the EQUOS cryptocurrency change, has entered right into a strategic partnership with GSR Markets geared to
Diginex, the Singapore-based operator of the EQUOS cryptocurrency change, has entered right into a strategic partnership with GSR Markets geared toward enhancing liquidity for its perpetual futures merchandise and spot pairs. Notably, the partnership seeks to advertise EQUOS’ mandate of delivering a regulated buying and selling expertise that’s free from market manipulation dangers.
Underneath the brand new partnership, GSR will turn into a shareholder of Diginex and one of many primary liquidity suppliers for the EQUOS change. GSR will present liquidity for the lately launched Bitcoin perpetual futures product in addition to a number of spot pairs. Sooner or later, GSR’s liquidity provision will prolong to choices and different structured merchandise.
Based in 2013, GSR is a Singapore-based market maker for digital belongings. The corporate claims to work with greater than 30 cryptocurrency exchanges globally.
The Diginex-GSR partnership is meant to strengthen EQUOS’ so-called “white hat” regulatory focus and guarantee its markets have ample liquidity with out the conflicts of curiosity that belie many different exchanges.
“One of many largest challenges the crypto business is at the moment dealing with is repute,” Richard Bynworth, CEO of Diginex, tells Cointelegraph. “There have been quite a few experiences of exchanges offering faux quantity figures, liquidity drying up throughout instances of volatility, and market manipulation typically by exchanges towards their very own shoppers.”
He explains:
“The objective of the market maker is to supply liquidity, tighten the unfold throughout buying and selling pairs, and encourage order ebook quantity. The usage of respected market makers, akin to GSR, permits EQUOS to step again and make sure the integrity of the market and buying and selling on its platform.”
Bynworth claims that EQUOS is “certainly one of solely a handful of exchanges” that doesn’t make markets on its platform. This dedication avoids “the battle of primarily buying and selling towards its personal shoppers.”
Diginex grew to become a publicly-traded firm final 12 months following a $50 million elevate and reverse merger. The inventory trades on the technology-rich Nasdaq change below the ticker image EQOS.