8i Enterprises Acquisition Corp. Announces Diginex Launches EQUOS.io
8i Enterprises Acquisition Corp., a special purpose acquisition company, announced that Diginex, a digital asset financial services and advisory company with which JFK entered into a definitive share exchange agreement dated July 9, 2019, launched its digital asset exchange EQUOS.io. EQUOS.io. is built to institutional-grade specifications and designed to improve the experience of trading digital assets for all market participants. The launch of the exchange is another important milestone for Diginex in advance of the planned business combination with JFK, which, upon expected completion in the third quarter of 2020, will offer investors the opportunity to participate in the growth of this emerging asset class via the public markets.
The EQUOS.io platform will feature a fully functioning digital asset exchange, offering cryptocurrency spot trading initially, with perpetual swaps, dated futures, options and other derivatives products to follow, and 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.
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EQUOS.io offers innovative products and significant improvements in transparency. The platform was designed from the outset to deliver high security standards for users with critical infrastructure such as segregation of duties, high performance with low latency, reliable connectivity and platform stability through volatile markets. Furthermore, EQUOS.io’s spot exchange is operating under an exemption to the Singapore Payment Services Act and will provide a fair and transparent platform for users. These represent key points of differentiation compared to other major exchanges operating today. As such, EQUOS.io is primed to become the trading venue of choice for professional and institutional investors and traders.
In the future, Diginex plans to expand the EQUOS.io platform to provide a clear and easy to use interface for retail investors, reimagining and redesigning trading services that to date have disadvantaged investors on many of the incumbent platforms. In addition, Diginex plans to add, managed account features that will improve capital efficiency and collateralization processes, and risk products that can substantially grow what is a nascent derivative market.
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The launch of EQUOS.io has been achieved thanks to support received from Endava (UK) Limited, Diginex’s development partner, who have been instrumental in the build and deployment of various foundational components of the EQUOS.io platform.
Today’s announcement is a key milestone in advance of the acquisition of Diginex by JFK expected to occur in the third quarter of 2020, which includes 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.
Alongside the public launch of EQUOS.io, Diginex has also filed an application for a Major Payment Institution license to the Singapore regulator, the Monetary Authority of Singapore, in line with Singapore’s progressive digital asset regulation, the Payment Services Act 2019. Diginex already operates in Singapore under a temporary exemption from licensing under the Act.
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