Diginex Goes for Public Listing on Nasdaq after Merger with 8i Enterprises Acquisition Corp

UTC by Bhushan Akolkar · 2 min read
Diginex Goes for Public Listing on Nasdaq after Merger with 8i Enterprises Acquisition Corp
Photo: Depositphotos

Diginex received an overwhelming 80% shareholder approval for its merger with 8i Enterprises. Digifinex subsidiary EQUOS will be the first crypto exchange to be listed on the Nasdaq index.

Diginex, the blockchain-based digital assets financial services company, has announced its official merger with 8i Enterprises Acquisition Corp. On Wednesday, September 16, 8i Enterprises announced that its shareholder had overwhelmingly voted for the approval of the “proposed business combination transaction” with Hong Kong-based Diginex Limited. 8i Enterprise is already a public listed company registered with Nasdaq. Thus, this merger will give Diginex a “backdoor” entry to the popular Nasdaq index. Diginex is also the parent company of the crypto-derivates platform EQUOS.io. As Diginex will go for a public listing later this month, EQUOS will become the first public listed cryptocurrency exchange. The ticker symbol for 8i Enterprise $JFK will also change to $EQOS. The official press release reads:

“Diginex brings together a comprehensive ecosystem of financial services for digital assets, comprising the recently launched cryptocurrency exchange EQUOS.io, digital asset trading technology platform Diginex Access, securitization advisory firm Diginex Capital, digital asset custody provider Digivault and the investment management business Bletchley Park Asset Management. Upon completion of the Transaction, Diginex will become the first listed company on Nasdaq with a cryptocurrency exchange”.

Diginex aims to create a complete digital assets ecosystem by offering innovative products and services. However, it plans to do all this while following the regulatory norms and play by the rules. Diginex’s native cryptocurrency exchange EQUOS.io also offers an over-the-counter trading facility to its users.

Gaining the Trust of Shareholders

Diginex had received the merger approval with 8i from the U.S. SEC, earlier this year in February. In July, the SEC had revisited the approval and scheduled the shareholder voting for September 15.

Diginex CEO Richard Byworth said that the news marks a “significant milestone” of the process as the two parties will be completing the transaction by the month-end.

Byworth added that the massive trust shown by its shareholders during these uncertain market conditions was a “testament” to the crypto industry. The Diginex listing will probably open doors for other crypto exchanges to go public. There’s been a long-time rumor that crypto exchange Coinbase has been mulling to go public. As per previous industry reports, this can happen anytime by the end of 2020 or by early 2021.

BlockFi is also working for its public listing. Recently, they have been looking for a chief financial officer to guide them with their IPO.

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