eqonex-group-announces-the-launch-of-eqonex-lending-and-the-execution-of-its-first-institutional-crypto-loan

EQONEX Group announces the launch of EQONEX Lending and the execution of its first institutional crypto loan

 

Diginex Limited (Nasdaq: EQOS), recently rebranded as EQONEX Group (“EQONEX” or the “Company”), a digital assets financial services company, today announced the launch of its institutional crypto lending platform, EQONEX Lending, and the execution of its first crypto loan to a European crypto native institution.

The launch of the platform follows a licensing agreement with Lendingblock, a lending platform for cryptocurrencies and digital assets, under which EQONEX has integrated Lendingblock’s lending exchange technology.

EQONEX Lending brings a uniquely safe and transparent offering to the market, capable of transforming the institutional crypto lending landscape. By providing a lending exchange with an open order book, its approach differs from many other crypto lending transactions which are currently undertaken on an over-the-counter (OTC) basis with little transparency over rates – a practice that stifles competition and impedes efficient markets.

The new approach enables institutional lenders and borrowers to interact directly via a lending exchange. The open order book allows exchange participants to view market rates being offered, and establishes market-competitive terms for collateralized transactions, bringing much needed rate transparency to the market. In addition to exchange-based lending, EQONEX will also offer an OTC lending service, with prevailing rates visible on the platform.

EQONEX Lending will also provide an automated workflow that manages the entire loan lifecycle, eliminating settlement risk, actively managing collateral to protect the lender from default risk and substantially reducing the operational risks normally associated with manual loan processing. The increasingly prominent risks associated with re-hypothecation are also eliminated as collateral assets are held in fully segregated storage in our FCA registered custodian.

Following a soft launch last month, EQONEX Lending has successfully originated and completed its first transaction, providing a Bitcoin (BTC) loan backed by USDC collateral. The platform has already developed a pipeline of loans to institutional counterparties, denominated principally in USDC, backed by collateral in BTC and Ethereum. The loans will service the fast-growing lending market, providing efficient financing for a wide range of institutions including funds, market makers, proprietary trading firms and crypto-specific firms such as miners.

The crypto borrowing and lending market has increased tenfold over the past 12 months. In 2020, crypto-backed loan volumes grew to well over $10 billion from just $1 billion in 2019, driven by increased investment activity from institutions. Much of this is conducted through a small number of custodial lenders. EQONEX Lending enables market participants to lend and borrow with EQONEX, but also directly with a broad range of other counterparties.

The EQONEX Lending platform seamlessly integrates with the rest of the EQONEX ecosystem including digital custodian Digivault, which provides fully segregated custody for loan collateral from the lending platform. Digivault recently received approval from the UK Financial Conduct Authority to register as a custodian wallet provider under the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) Regulations. EQONEX Lending will also be integrated into the crypto exchange EQONEX to provide borrowing and lending services to both retail and institutional investors.

Richard Byworth, CEO at Diginex, said: “The crypto lending market is set to be one of the fastest growing segments of the industry in the coming months and years, as institutions look to manage their capital efficiently. Lendingblock’s technology is proven to provide state of the art settlement, collateral management capabilities, and transparent pricing. EQONEX Lending will be the only platform that provides the ability to view the whole loan book, allowing clients to have the full flexibility to set their own financial terms.”

Head of EQONEX Lending, Charlie Beach added: “We’re very excited to have launched what we think will be a transformational product for the institutional lending market, enabling a broad range of companies to come together across a safe and transparent venue that combines proven capital markets financial concepts with blockchain technology.”

diginex:-industry-heavyweights-join-forces-to-debate-the-future-of-digital-money

Diginex: Industry heavyweights join forces to debate the future of digital money

 

EQUOS, the institutional-grade cryptocurrency exchange owned by Diginex (Nasdaq: EQOS), will host a webinar between Roger Ver, the Founder of Bitcoin.com, and Richard Byworth, CEO of Diginex, the first Nasdaq-listed company with a cryptocurrency exchange.

They will debate the ‘Future of Digital Money’ and examine the trigger points that could lead to the ubiquitous use of cryptocurrencies as a means of payment, store of value and settlement.

Following recent news from Paypal, Tesla and Square[1] that they are now accepting crypto as a means of payment, the future of digital money is being debated widely from Central Bankers to crypto investing enthusiasts.

The increasing adoption by institutional investors, and the widening acceptance of crypto as a settlement currency, has seen the market value of the asset surpass $2 trillion for the first time in its history.

During a live event on April 21st, Ver and Byworth will look at the drivers of crypto market value growth, potential headwinds and the progression of two of the best-known cryptocurrencies, Bitcoin and Bitcoin Cash.

The webinar follows the decision by the EQUOS Listing Committee to approve the listing of Bitcoin Cash, which was initially developed by Roger Ver, on EQUOS in March.

The listing followed careful consideration by the committee, which analyses every coin and its underlying blockchain to assess it for its utility, degree of decentralization, current usage and transaction flow, ongoing development effort, innovation over other blockchains and its long-term prospects.

As a core objective, EQUOS aims to list quality projects that align with its own core values of transparency, fairness, innovation and compliance.

EQUOS is proud to host Roger Ver and Richard Byworth in a Live Webinar titled “Roger Ver and Richard Byworth tackle Bitcoin, Bitcoin Cash, and the Future of Digital Money” on April 21st 9am ET/9pm HKT. Register here.

treasury-management-international-engages-diginex-to-put-bitcoin-on-balance-sheet

Treasury Management International engages Diginex to put Bitcoin on balance sheet

 

Treasury Management International (TMI), the leading corporate treasury publishing group, has received payment in bitcoin for costs associated with researching the utility of Crypto Assets. TMI chose to work with Nasdaq-listed Diginex [EQOS] on this pioneering transaction, utilizing the company’s cryptocurrency exchange EQUOS.io and their industry certified custodian Digivault to receive and store the bitcoin.

TMI has undertaken this initiative, with the support of Diginex, as part of a wider study into the practical applications of crypto assets for corporate treasurers. This work will include hosting an event entitled: “Crypto Assets: The Questions Every Corporate Treasurer Should be Asking” on April 21st where a panel of leading experts will discuss whether crypto assets and more specifically bitcoin has become a viable treasury asset.

Following the US based “Bitcoin for Corporations” event, which attracted over 8,197 attendees from 6,917 different enterprises, attendees from TMI’s global network of over 30,000 Corporate Treasurers will be joined by leading industry participants in what is expected to be the largest and most diverse event of its kind to date.

Robin Page, CEO at TMI said: “We are excited to be working with Diginex to explore the benefits and opportunities for treasurers to diversify their armoury of investment and payment instruments. And how better to gain insight into the real world experience of crypto assets than by accepting them ourselves? We chose Diginex, a Nasdaq-listed company, to partner with as a reflection of dedication to fair and transparent markets as well as institutional grade infrastructure. We plan to offer selected FinTech’s and Banks wishing to explore crypto assets the opportunity to pay TMI with bitcoin, which we will in turn hold as our own treasury asset.”

Richard Byworth, CEO of Diginex, said: “We are delighted to partner with TMI on this, and their future transactions, as well as assisting them to educate their readers. Given the continuing adoption by many large companies such as Tesla and MicroStrategy of bitcoin as a treasury asset, corporate treasurers in EMEA and Asia are trying to grapple with the value proposition of bitcoin as a treasury asset. Diginex caters specifically to institutions who demand a robust, and secure platform with regulatory oversight.”

Matt Blom, Head of Sales Trading & Corporate Solutions said: “As corporate treasurers begin to understand the potential of the asset class, they will look not only at the fundamental drivers of price but also the technical implementation. Our ‘Direct-to-Custody’ OTC service allows clients a safe, secure and efficient process for those who are opting to transact through our platform. We are not just an execution service; we pride ourselves on sharing our deep knowledge of crypto asset management with our corporate clients.”

treasury-management-international-engages-diginex-to-put-bitcoin-on-balance-sheet

Treasury Management International engages Diginex to put Bitcoin on balance sheet

 

Treasury Management International (TMI), the leading corporate treasury publishing group, has received payment in bitcoin for costs associated with researching the utility of Crypto Assets. TMI chose to work with Nasdaq-listed Diginex [EQOS] on this pioneering transaction, utilizing the company’s cryptocurrency exchange EQUOS.io and their industry certified custodian Digivault to receive and store the bitcoin.

TMI has undertaken this initiative, with the support of Diginex, as part of a wider study into the practical applications of crypto assets for corporate treasurers. This work will include hosting an event entitled: “Crypto Assets: The Questions Every Corporate Treasurer Should be Asking” on April 21st where a panel of leading experts will discuss whether crypto assets and more specifically bitcoin has become a viable treasury asset.

Following the US based “Bitcoin for Corporations” event, which attracted over 8,197 attendees from 6,917 different enterprises, attendees from TMI’s global network of over 30,000 Corporate Treasurers will be joined by leading industry participants in what is expected to be the largest and most diverse event of its kind to date.

Robin Page, CEO at TMI said: “We are excited to be working with Diginex to explore the benefits and opportunities for treasurers to diversify their armoury of investment and payment instruments. And how better to gain insight into the real world experience of crypto assets than by accepting them ourselves? We chose Diginex, a Nasdaq-listed company, to partner with as a reflection of dedication to fair and transparent markets as well as institutional grade infrastructure. We plan to offer selected FinTech’s and Banks wishing to explore crypto assets the opportunity to pay TMI with bitcoin, which we will in turn hold as our own treasury asset.”

Richard Byworth, CEO of Diginex, said: “We are delighted to partner with TMI on this, and their future transactions, as well as assisting them to educate their readers. Given the continuing adoption by many large companies such as Tesla and MicroStrategy of bitcoin as a treasury asset, corporate treasurers in EMEA and Asia are trying to grapple with the value proposition of bitcoin as a treasury asset. Diginex caters specifically to institutions who demand a robust, and secure platform with regulatory oversight.”

Matt Blom, Head of Sales Trading & Corporate Solutions said: “As corporate treasurers begin to understand the potential of the asset class, they will look not only at the fundamental drivers of price but also the technical implementation. Our ‘Direct-to-Custody’ OTC service allows clients a safe, secure and efficient process for those who are opting to transact through our platform. We are not just an execution service; we pride ourselves on sharing our deep knowledge of crypto asset management with our corporate clients.”