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Diginex launches crypto exchange in Singapore

Friday 31 July 2020 12:31 CET | News

Hong Kong-based Diginex has launched a cryptocurrency exchange in Singapore, where it currently operates under a ‘temporary exemption’ from licensing. 

The move comes ahead of its planned listing on Nasdaq, expected to take place this quarter 2020. Its Singapore exchange, EQUOS.io, would specialise in crypto derivatives trading and initially offer spot trading, with dated futures, options, and other derivative products to follow. The blockchain technology company added in a statement that the exchange was operating under an exemption in Singapore's Payment Services Act, and would be a ‘fair and transparent platform’ for users, as related by zdnet.com.

The launch comes ahead of the company's planned merger with 8i Enterprises Acquisition, which is expected to be finalised in the third quarter of 2020 and will see Diginex's listing on Nasdaq. In its statement, the blockchain tech company added that it had applied for a Major Payment Institution licence in Singapore, where it currently operates under the temporary exemption.

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Keywords: Diginex, cryptocurrency, crypto exchange, Singapore, temporary exemption, license, Hong Kong, Nasdaq, EQUOS.io, crypto trading, spot trading, blockchain, Payment Services Act, 8i Enterprises Acquisition, Major Payment Institution
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Singapore
This article is part of category

Blockchain & Cryptocurrencies