Blockchain-powered financial services company Diginex launched its new Equos digital asset exchange on July 30.
The exchange will initially host crypto asset spot trading, with plans for “perpetual swaps, dated futures, options, and other derivatives products” to soon follow. The platform will support USD and the USD Coin (USDC) stablecoin at launch.
The spot exchange is licensed under an exemption to the Singapore Payment Services Act, with Diginex having also applied to become a ‘Major Payment Institution’ with the country’s regulator.
The platform will also facilitate interoperability with Diginex’s hot and cold digital asset custodian, Digivault, in addition to Diginex’s over-the-counter trading desk and forthcoming integrated derivatives trading venue, Diginex Access.
Diginex prepares for merger
Equos’ launch comes ahead of Diginex’s merger with the NASDAQ-listed special purpose acquisition company, 8i Enterprises Acquisition Corp.
With the acquisition expected to have been completed by the fourth quarter, Equos is slated to become the first digital asset exchange listed in the United States.
“This is a pivotal moment for us to launch Equos.io ahead of our transaction with 8i Enterprises Acquisition Corp,” said Diginex’s chief executive, Richard Byworth. “Our planned listing on Nasdaq is further testament to compliance, regulation, and transparency.”
Diginex expands partnership with Itiviti
On July 21, Diginex announced an expanded partnership with trading technology firm Itiviti to leverage its ‘Tbricks’ solution.
Tbricks offers automated risk, profit and loss, and portfolio management services to institutional clients.
Diginex will use Tbricks to launch Diginex Access, with the firm already leveraging Itiviti’s global order routing network.