Earthmeta Earthmeta

Crypto and Blockchain Firm Diginex Set to List on Nasdaq via Reverse Merger after Acquiring 8i

UTC by Steve Muchoki · 2 min read
Crypto and Blockchain Firm Diginex Set to List on Nasdaq via Reverse Merger after Acquiring 8i
Photo: Depositphotos

Crypto and blockchain solutions firm Diginex is set to list on Nasdaq via a reverse merger deal. Diginex is also said to have partnered with institutional investors, corporations, and governments to ensure further digital adoption.

Diginex, a digital financial services and blockchain solutions company, will be listed on Nasdaq in the third quarter if all prospects unfolded as scheduled. The firm is expected to be listed through a reverse merger process after acquiring 8i Enterprises Acquisition Corp, the Nasdaq-listed special purpose company.

The Hong Kong-based firm has been in the process of acquiring 8i Enterprises Acquisition Corp since last July. Initially, the listing was scheduled for March but could not take place due to the market uncertainty caused by the coronavirus pandemic.

Diginex has partnered with institutional investors, corporations, and governments to further digital adoption. With the SEC‘s new approval of the acquisition, it will be up to the Diginex shareholders’ vote that is scheduled on September 15. It is after the vote that the ticker name will be changed for a new listing.

Diginex CEO Richard Byworth said that the upcoming Nasdaq listing is “further testament to our commitment to compliance, regulation and transparency.”

He also explained that SPACs were faster and cheaper than traditional listings. Besides, they fix valuations in advance, avoiding the possibility of WeWork-like devaluations at the last minute

When asked why the company opted to list at Nasdaq, Byworth said that “the Nasdaq listing is more about the credibility and trust.” He further states that the exchange remains the foremost stock exchange for tech stocks anywhere in the world.

Diginex Works on Further Institutional Digital Asset Adoption

Diginex is working towards digital assets adoption mostly in the institutional market. In a bid to further its course, the company announced the public launch of its digital asset exchange

“The launch of the exchange is another important milestone for Diginex in advance of the planned business combination with 8i Enterprises Acquisition Corp,” the company stated in a press release.

The new exchange platform will feature a fully functioning digital asset exchange that will be offering cryptocurrency spot trading initially besides perpetual swaps, dated futures, options and other derivatives products.

“This is a pivotal moment for us to launch ahead of our transaction with 8i Enterprises Acquisition Corp. We are proud to deliver, an exchange for virtual currencies and digital assets that challenges everything we have witnessed in the early growth of this industry,” said Byworth.

Other news from the blockchain industry can be found here.

Blockchain News, Business News, Cryptocurrency News, Deals News, News
Related Articles