Diginex, a blockchain focused financial service provider, announced the launch of cryptocurrency exchange named Equos, which will initially offer spot trading facility.
In the near future, the exchange intends to offer “perpetual swaps, dated futures, options, and other derivatives products.” The platform will support USD and the USD Coin (USDC), a stable coin pegged to the US dollar, at the time of roll out.
The spot exchange has received license through a waiver to the Singapore Payment Services Act, and Diginex has submitted an application to turn into a ‘Major Payment Institution’ with the country’s regulatory authority.
The platform will also pave way for interchangeability with Digivault, which is cold and hot digital asset custodian of Diginex, along with the OTC (over-the-counter) trading desk and upcoming derivatives trading platform, Diginex Access.
The roll out of Equos has come before the merger of Diginex with Nasdaq listed 8i Enterprises Acquisition Corp, a special purpose acquisition company (SPAC).
With the takeover anticipated to have been finished in 4Q19, Equos is destined to turn into a first US listed cryptocurrency exchange.
Diginex’s CEO Richard Byworth said “This is a pivotal moment for us to launch Equos.io ahead of our transaction with 8i Enterprises Acquisition Corp. Our planned listing on Nasdaq is further testament to compliance, regulation, and transparency.”
Diginex also inked a partnership deal with Itiviti, a tech firm developing trading related tools, to capitalize on the latters “Tbricks” solution. Tbricks provides mechanized portfolio administration, risk, profit and loss management services to institutional customers.
Diginex will utilize Tbricks to rollout Diginex Access. Notably, the company is already benefiting from Itiviti’s International order routing system.
