EQONEX Launches NFT Over-the-Counter Trading and Secure Custody Services

Rhea-AI Summary

EQONEX Limited (NASDAQ: EQOS) has successfully executed its inaugural direct to custody NFT trade, acquiring a Bored Ape NFT through a regulated Canadian broker. This transaction is part of EQONEX's new service that includes NFT storage in Digivault, the UK's first FCA-registered crypto custodian. The trade addresses concerns around NFT security, offering clients peace of mind with their digital assets held securely. CEO Jonathan Farnell highlighted the rising demand for safe NFT transactions, emphasizing their commitment to delivering exclusive content and technology solutions to investors.

Positive

• Successfully launched direct to custody NFT trading, enhancing service offerings.
• Partnership with regulated entities improves transaction security and investor confidence.
• Expansion into NFTs aligns with growing market demand for secure digital assets.

Negative

• None.

EQONEX completes its first "direct to custody" NFT trade with Bored Ape purchase

SINGAPORE, May 24, 2022 /PRNewswire/ -- EQONEX Limited (NASDAQ: EQOS) ("EQONEX" or the "Company"), a digital assets financial services company, today announced that it had completed its first ever direct to custody over-the-counter (OTC) non-fungible token (NFT) trade.

The deal is part of a new offering from the company that provides exclusive NFTs through a network of regulated partners and  provides storage for the assets within Digivault, the UK's first standalone custodian to be FCA-registered under the crypto asset regime. 

The Bored Ape Yacht Club NFT was purchased through regulated Canadian brokerage Secure Digital Markets, one of EQONEX's partners, and deposited directly into Digivault. The NFT is held in bank vaults alongside other Digivault crypto assets, diamonds, and silver.

Jonathan Farnell, EQONEX CEO, said, "There is strong demand for secure access to NFTs. By utilizing our network of partners, we will in future also be able to provide exclusive content to our clients. As well as providing them with a best-in-class technology solution that gives the peace of mind that their digital assets are safely held in our FCA-registered custodian."

Many traditional investors have been put off purchasing NFTs due to the well documented scams, hacks and phishing attacks. In February, $1.7 million in NFTs were stolen following a phishing attack on OpenSea users, one of the largest marketplaces for NFTs.

Robert Cooper, Digivault CEO, said: "Today's deal is significant because there was no point in our process where the client needed to take custody of the asset, which dramatically reduced their risk of asset loss. We are creating a solution where clients will, in time, be able to directly view their NFTs alongside their crypto balances in the Digivault dashboard and know that the same level of security is applied to their NFT collection as there is for their BTC portfolio."

The NFT was part of the Bored Ape Yacht Club collection of 10000 unique Bored Ape NFTs— unique digital collectibles living on the Ethereum blockchain.

ENDS

About EQONEX

EQONEX Limited (NASDAQ: EQOS) is a technology-driven digital assets financial services group that provides institutional-grade infrastructure and a full suite of trading, custody and asset management solutions to clients. The Group's digital assets ecosystem has been designed to accommodate the needs of institutions and individuals with the same degree of regulatory oversight and security they are accustomed to in traditional financial markets. EQONEX's ecosystem primarily encompasses EQONEX Exchange, a digital asset exchange; Digivault, a FCA accredited hot and cold digital assets custodian and Bletchley Park Asset Management, a fund of crypto-hedge funds.

For more information visit: https://group.eqonex.com/ 

Follow EQONEX on social media on Twitter @eqonex, on Facebook @eqonex, and on LinkedIn.

Forward-Looking Information

Any forward-looking statements in this press release are based on available current market material and management's expectations, beliefs and forecasts concerning future events impacting EQONEX.  You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, as well as assumptions, which, if they were to ever materialize or prove incorrect, could cause the results of EQONEX to differ materially from those expressed or implied by such forward-looking statements.  The forward-looking statements made in this press release speak only as of the date hereof and we disclaim any obligation, except as required by law, to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.

View original content:https://www.prnewswire.com/news-releases/eqonex-launches-nft-over-the-counter-trading-and-secure-custody-services-301553957.html

SOURCE EQONEX

FAQ

What is EQONEX's recent NFT trade significance?

EQONEX's recent NFT trade signifies the launch of its direct to custody NFT trading service, enhancing security and access for investors.

What NFT did EQONEX purchase in its first trade?

EQONEX purchased a Bored Ape NFT in its inaugural direct to custody NFT trade.

When did EQONEX complete its first NFT trade?

EQONEX completed its first NFT trade on May 24, 2022.

How does EQONEX ensure the security of NFTs?

EQONEX ensures NFT security by utilizing Digivault, the FCA-registered custodian, for safe storage and custody of digital assets.

What challenges are associated with NFT security mentioned in the press release?

The press release highlighted challenges such as scams, hacks, and phishing attacks that deter traditional investors from purchasing NFTs.