Diginex Limited, a digital asset financial services company, is unifying its businesses under the brand, EQONEX.
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, securitisation business and the upcoming investment products and borrowing and lending businesses.
EQUOS, the cryptocurrency exchange will be known as EQONEX and Diginex Capital, the digital asset securitisation 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.
The company’s corporate name will remain Diginex Limited and the company will continue to trade on the Nasdaq Stock Exchange as Diginex Limited (Nasdaq: EQOS), pending a resolution to rename the corporate entity at the company’s AGM later this year. The rebrand follows the divestment of Diginex Solutions, the ESG blockchain solutions company, in May 2020 and the impending lapse of the license to use the “Diginex” brand at the end of the month.
Since its launch, growth on the EQONEX exchange, has been tremendous, with exchange volumes growing by over 50 times1 since the company became public in October 2020. Last week, the EQONEX exchange achieved its strongest 24- hour volume day in excess of USD260 million and is currently reporting over USD4.5 billion in 30-day volume.
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 USD29-million fully-diluted market capitalisation, compared to USD11.5 billion to USD63 billion market capitalisation 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.
The new EQONEX brand focuses on the crypto element of the business, reflected in the EQUOS and EQO brands, whilst recognising its history as Diginex. The value proposition to customers remains the same – offering fairness, governance, and innovation to all of its stakeholders.
The brand also reinforces the company’s mission to drive harmony and equilibrium between traditional finance and cryptocurrencies, bringing digital assets to the world.
“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. The new brand EQONEX signifies all the strongest elements of our existing brands. We provide a regulated, compliant and secure ecosystem with equality for all clients, both institutional and retail,” says Richard Byworth, CEO at EQONEX.