Diginex Limited, the digital assets financial services company, announced that it has entered into a strategic partnership with GSR Markets (GSR), a leading global market maker for cryptocurrency spot and crypto derivative markets.
As part of the strategic partnership, GSR will become a shareholder in Diginex and one of the main liquidity providers for EQUOS, Diginex’s crypto exchange. On EQUOS, GSR will provide liquidity in all markets from the recently launched BTC perpetual futures product to its BTC/USDC, ETH/USDC and ETH/BTC spot pairs. GSR will also play a critical role in supporting the rollout of Diginex’s future product roadmap, which include dated futures and options.
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Richard Byworth, CEO of Diginex, commented: “As an exchange that avoids the conflict of interest of making markets against its own participants, the partnership with GSR is key to growing the depth and liquidity in all our trading pairs. GSR are one of the largest market makers in crypto and crypto derivatives, so longer term the partnership will evolve more broadly into liquidity provision around key offerings like options, structured products and borrowing and lending.”
“Since the launch of our BTC Perpetual product, we have seen a meaningful increase in activity on EQUOS, with overall volumes increasing over 2.5 times on an average daily basis, compared to December levels. We anticipate that with GSR onboard and the additional depth they will bring to our books, we will continue to see volumes increase meaningfully as liquidity and spreads improve.”
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“Our focus is on the creation of secure, fair, regulated and high-performance spot and derivative markets for this emerging asset class. As one of the largest and most influential market makers for digital assets and their derivatives, GSR are the logical long-term partner for Diginex and our future strategic roadmap.”
Jakob Palmstierna, Partner at GSR said: “We pride ourselves in partnering with organizations who share our commitment to fair, robust, and liquid markets. With Nasdaq governance structures and leadership from both crypto and institutional finance, the EQUOS team are an obvious strategic partner. The team’s ambitious and clear approach to the growth of derivative products for the asset class meant that it was important that the partnership included an equity stake.”
The partnership with GSR follows Diginex’s successful $38.6 million private placement to further invest in and accelerate the roll-out of its digital asset ecosystem, and the launch of its BTC perpetual futures product, both announced in January.
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