Diginex Ltd is on track to go public in September and launched a cryptocurrency exchange in Singapore

31 Jul, 2020 04:54
source: Singularity Financial

Hong Kong-based crypto firm Diginex Ltd. is on track to go public in September on Nasdaq after the Hong Kong-based cryptocurrency and blockchain-services firm first announced the move via a reverse merger more than a year ago.

The deal with 8i Enterprises Acquisition Corp., a special purpose investment holding company, was delayed from June but has now secured listing approval from the US Securities and Exchange Commission (SEC) and will be voted on by shareholders Sept. 15, said Richard Byworth, Diginex’s CEO.

The current listing for 8i will become Diginex between Sept. 20-23, and the ticker, JFK, will be subsequently changed.

At the mean time, Diginex has launched a cryptocurrency exchange in Singapore, where it currently operates under a “temporary exemption” from licensing.

Its Singapore exchange, EQUOS.io, would specialise in crypto derivatives trading and initially offer spot trading, with dated futures, options, and other derivative products to follow. The blockchain technology company added in a statement Thursday that the exchange was operating under an exemption in Singapore’s Payment Services Act, and would be a “fair and transparent platform” for users.

It also would introduce an “easy to use” interface for retail investors as well as managed account features designed to improve collateralisation processes, amongst others.

In its statement, the blockchain tech company added that it had applied for a Major Payment Institution licence in Singapore, where it currently operates under the temporary exemption.

The Monetary Authority of Singapore (MAS) earlier this year published a list of entities that had been exempted from holding a licence under the Payment Services Act, for specific payment services, and a period of either six or 12 months. This exemption would end after the specified period or if the entity applied for a licence.