Following a $20 million capital elevate and reverse merger, digital finance firm Diginex’s inventory has listed on the Nasdaq trade below the ticker EQOS. 

Diginex is “the primary Nasdaq-listed firm that covers the total digital forex ecosystem,” Diginex CEO Richard Byworth informed Cointelegraph in an interview. “I feel that is vastly necessary for the event of the trade. Previous to this, you’ve got just about solely had publicity to direct crypto belongings through ETF-like buildings,” he stated, mentioning merchandise corresponding to these provided by Grayscale.

Diginex is the mother or father of plenty of completely different crypto and blockchain-focused entities, together with crypto trade Equos, and Digivault — the corporate’s digital asset custody wing. Equos opened only in the near past, on July 30.

Diginex is concerned in lots of areas of the crypto and blockchain area and Byworth believes it represents a approach to spend money on the general crypto area through the mainstream U.S. inventory market.

“Now you lastly have a picks and shovels commerce for all the asset class.”

“Having that on the general public markets is vastly differentiating,” he added. “It is a very nice publicity diversification for a portfolio that is centered on this asset class.” 

Again within the 1800s, Individuals flocked west in quest of gold, and wanted to purchase picks and shovels to unearth the dear steel. Consequently, it was a safer guess to the personal decide and shovel firms, which made large earnings throughout this period, moderately than to seek for gold itself, the outcomes of which have been much less constant. Diginex is sort of a modern-day decide and shovel firm, in response to Byworth.

Along with its trade, custody answer, asset administration and multi-venue buying and selling platform, Diginex additionally boasts involvement with digital securities. 

Diginex took an indirect method to going public as a listed firm, going by a special-purpose acquisition firm, or SPAC — a classification referring to “blank-check firms which are shaped for the aim of merging or buying different firms,” as explained in a TechCrunch article. 

Diginex merged with 8i Enterprises, a SPAC that’s already publicly traded. As of the reverse merger and itemizing as we speak, 8i Enterprises Acquisition Company now goes by the title Diginex. As we speak basically serves because the inaugural buying and selling day for EQOS, previously identified below the ticker JFK (the corporate traded as 8i Enterprises earlier than the reverse merger).

Diginex’s public debut has been years within the making. Plans for the reverse merger hit headlines in July 2019. The U.S. Securities and Change Fee, or SEC, gave the reverse merger and public Nasdaq itemizing a inexperienced gentle in February 2020.