16 June, 2021
Nasdaq-listed Diginex Limited, the digital asset financial services company, is said it is unifying its businesses under the brand, EQONEX, according to a statement.
The rebrand brings together under the EQONEX Group brand, its cryptocurrency exchange, custody platform, multi-venue trading business, over-the-counter (OTC) offering, its asset management solution, securitization business and the upcoming investment products and borrowing and lending businesses.
Since its launch, growth on the EQONEX exchange, has been tremendous, with exchange volumes growing by over 50 times since the company became public in October 2020. Last week, the EQONEX exchange achieved its strongest 24-hour volume day in excess of $260 million and is currently reporting over $4.5 billion in 30-day volume.
“As we progress in our focus of delivering digital assets to a broad cross-section of clients, it is important for us to unify the key pieces under a single brand,” said Richard Byworth, CEO at EQONEX.
This momentum has been driven by the April launch of the exchange token EQO, which offers fee reduction and staking rewards for traders on the platform and will soon offer even more utilities, such as being available for use as collateral for derivative positions and providing enhanced yield on balances that are lent via the platform.
At a $29-million fully-diluted market capitalization, compared to $11.5 billion to $63 billion market capitalization for other exchange tokens, new investors and traders have started to trade and earn EQO on the exchange. The company launched the token without a token sale, instead the token is provided to users of the platform like air miles.
EQUOS, the cryptocurrency exchange will be known as EQONEX and Diginex Capital, the digital asset securitization business will be rebranded to EQONEX Capital. The upcoming investment products business will be called EQONEX Investment Products and the anticipated borrowing and lending platform will become EQONEX Lending.
Diginex Access, the multi-venue trading platform, will rebrand to Access Trading. Digivault, the UK Financial Conduct Authority-registered crypto-asset custodian, will continue to operate under its current name. Bletchley Park, the crypto fund of funds, will also operate under its current name.