Diginex's EQUOS Origin (EQO) Token Driving Growth Across Ecosystem
Diginex Limited (Nasdaq: EQOS) announced a surge in account openings and retail trading volume on the EQUOS Cryptocurrency Exchange following the launch of its EQUOS Origin token (EQO) on March 16, 2021. Unlike traditional token offerings, EQO offers utility on an operational exchange, rewarding traders with fee reductions and yield enhancements. CEO Richard Byworth highlighted increased global interest, with diverse customer trading from Europe, the Middle East, Asia, and Australasia. The EQO token will officially launch on April 8, 2021, with a structured issuance plan.
- Significant increase in retail account openings and trading volume post-EQO launch.
- EQO token provides utility within an established exchange, fostering trader engagement.
- Broad global interest with participation from diverse regions.
- None.
SINGAPORE, March 24, 2021 /PRNewswire/ -- Diginex Limited (Nasdaq: EQOS) (the "Company"), a digital assets financial services company, today announced a significant acceleration in account openings and a daily record for retail trading volume on the EQUOS Cryptocurrency Exchange following the launch of the special issuance period for its EQUOS Origin token ("EQO") on March 16, 2021.
Unlike most token offerings, EQO will have utility within an already fully functioning exchange and is not being offered for sale to raise capital. EQO can only be earned through trading on the EQUOS cryptocurrency exchange and rewards traders with fee reductions, yield enhancement on other assets and can be used as collateral for derivatives trades. Holders of EQO will also be entitled to future airdrops of new tokens issued for utility purposes within the Diginex ecosystem. As EQUOS rolls out borrowing and lending capabilities, scheduled for later this year, EQO will be used to boost yields available on assets held in Digivault, the hot and cold wallet custodian integrated into EQUOS.
Richard Byworth, CEO of Diginex, said: "We have seen an enthusiastic uptake for EQO since we launched just a week ago, with a meaningful increase in retail sign ups and a record retail daily trading volume. Together with strong interest from our institutional customer base, this reflects significant retail and professional trader interest in earning the EQO token. "
"EQO is designed to allow utility across the future prime / private banking-like experience for digital assets that we have been building. Since last week's launch, we have seen increased activity coming from a diverse range of countries, with trading volume from customers across Europe, the Middle East, Asia and Australasia. It's great to see such global recognition for this very unique exchange token."
The EQUOS Origin will launch on 8th April 2021, with 11 Reward Blocks. Tokens will be distributed daily via a "Reward Block" over a two year "Issuance Period" and will have a regular supply reduction (or halving feature) every 90 Reward Blocks. The first 10 blocks will reward fee-paying clients' price taking volumes between 16th March 2021 and 7th April 2021.
To read the whitepaper, click here.
About Diginex
Diginex is a digital assets financial services company focused on delivering a cryptocurrency and digital assets ecosystem offering innovative product and services that are compliant, fair and trusted. The group encompasses cryptocurrency exchange EQUOS.io as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform, Diginex Access, a securitization advisory service, Diginex Capital, market leading hot and cold custodian Digivault and funds business Bletchley Park.
For more information visit: https://www.diginex.com/
Follow Diginex on social media on Twitter @DiginexGlobal, on Facebook @DiginexGlobal, and on LinkedIn.
Follow EQUOS.io on social media on Twitter @EQUOS_io and on LinkedIn.
Forward-Looking Statements
This press release includes forward looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. For example, forward looking statements in this press release relate the completion of the private placement, the satisfaction of customary closing conditions related to the private placement and the intended use of net proceeds from the private placement. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results or outcomes to differ materially from the forward-looking statements. Most of these factors are outside of Diginex's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the ability to recognize the anticipated benefits of the business combination; the ability of Diginex to grow and manage growth profitably; Diginex's limited operating history and history of net losses; Diginex's ability to execute its business plan; the inability to maintain the listing of Diginex's shares on Nasdaq; Diginex's estimates of the size of the markets for its products; the rate and degree of market acceptance of Diginex's products; Diginex's ability to identify and integrate acquisitions; potential litigation involving Diginex or the validity or enforceability of Diginex's intellectual property; general economic and market conditions impacting demand for Diginex's products and services; and such other risks and uncertainties indicated in Diginex's Shell Company Report on Form 20-F, including those under "Risk Factors" therein, and in Diginex's other filings with the SEC, which are available on the SEC's website at www.sec.gov.
In addition, any forward-looking statements contained in this press release are based on assumptions that Diginex believes to be reasonable as of this date. Diginex undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Other than those of Diginex, all names, trademarks and logos in this Press Release and used in the materials herein belong to their respective owners. Nothing contained on this Press Release should be construed as granting, by implication, estoppel, or otherwise, any right or license to use any third-party names, trademarks, or logos displayed on the Press Release without the written permission of such third-parties. Copyright (c) Diginex 2021.
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SOURCE Diginex Limited
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