Following a $20 million
capital raise and reverse merger, digital finance company Diginex's
stock has listed on the Nasdaq exchange under the ticker EQOS. 

Diginex
is "the first Nasdaq-listed company that covers the full virtual
currency ecosystem," Diginex CEO Richard Byworth told Cointelegraph in
an interview. "I think this is hugely important for the development of
the industry. Prior to this, you've pretty much only had exposure to
direct crypto assets via ETF-like structures," he said, mentioning
products such as those offered by Grayscale.

Diginex is the
parent of a number of different crypto and blockchain-focused entities,
including crypto exchange Equos, and Digivault — the company's digital
asset custody wing. Equos opened just recently, on July 30.

Diginex
is involved in many areas of the crypto and blockchain space and
Byworth believes it represents a way to invest in the overall crypto
space via the mainstream U.S. stock market.

"Now you finally have a picks and shovels trade for the entire asset class."

"Having
that on the public markets is hugely differentiating," he added. "It's a
really nice exposure diversification for a portfolio that's focused on
this asset class." 

Back in the 1800s, Americans flocked west in search of gold,
and needed to buy picks and shovels to unearth the precious metal.
Consequently, it was a safer bet to the own pick and shovel companies,
which made tremendous profits during this era, rather than to search for
gold itself, the results of which were less consistent. Diginex is like
a modern-day pick and shovel company, according to Byworth.

In
addition to its exchange, custody solution, asset management and
multi-venue trading platform, Diginex also boasts involvement with
digital securities. 

Diginex took an indirect
approach to going public as a listed company, going through a
special-purpose acquisition company, or SPAC — a classification
referring to "blank-check companies that are formed for the purpose of
merging or acquiring other companies," as explained in a TechCrunch article. 

Diginex
merged with 8i Enterprises, a SPAC that is already publicly traded. As
of the reverse merger and listing today, 8i Enterprises Acquisition
Corporation now goes by the name Diginex. Today essentially serves as
the inaugural trading day for EQOS, formerly known under the ticker JFK
(the company traded as 8i Enterprises before the reverse merger).

Diginex's public debut has been years in the making. Plans for the reverse merger hit headlines in July 2019. The U.S. Securities and Exchange Commission, or SEC, gave the reverse merger and public Nasdaq listing a green light in February 2020. 

source link : https://cointelegraph.com/news/diginex-goes-public-on-nasdaq-following-special-purpose-acquisition