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HONG KONG, Jan. 25, 2021 /PRNewswire/ -- Diginex Limited (Nasdaq: EQOS), the digital assets financial services company, announced today that it has entered into a strategic partnership with GSR Markets (GSR), a leading global market maker for cryptocurrency spot and crypto derivative markets.
As part of the strategic partnership, GSR will become a shareholder in Diginex and one of the main liquidity providers for EQUOS, Diginex's crypto exchange. On EQUOS, GSR will provide liquidity in all markets from the recently launched BTC perpetual futures product to its BTC/USDC, ETH/USDC and ETH/BTC spot pairs. GSR will also play a critical role in supporting the rollout of Diginex's future product roadmap, which include dated futures and options.
Richard Byworth, CEO of Diginex, commented: "As an exchange that avoids the conflict of interest of making markets against its own participants, the partnership with GSR is key to growing the depth and liquidity in all our trading pairs. GSR are one of the largest market makers in crypto and crypto derivatives, so longer term the partnership will evolve more broadly into liquidity provision around key offerings like options, structured products and borrowing and lending."
"Since the launch of our BTC Perpetual product, we have seen a meaningful increase in activity on EQUOS, with overall volumes increasing over 2.5 times on an average daily basis, compared to December levels. We anticipate that with GSR onboard and the additional depth they will bring to our books, we will continue to see volumes increase meaningfully as liquidity and spreads improve."
"Our focus is on the creation of secure, fair, regulated and high-performance spot and derivative markets for this emerging asset class. As one of the largest and most influential market makers for digital assets and their derivatives, GSR are the logical long-term partner for Diginex and our future strategic roadmap."
Jakob Palmstierna, Partner at GSR said: "We pride ourselves in partnering with organizations who share our commitment to fair, robust, and liquid markets. With Nasdaq governance structures and leadership from both crypto and institutional finance, the EQUOS team are an obvious strategic partner. The team's ambitious and clear approach to the growth of derivative products for the asset class meant that it was important that the partnership included an equity stake."
The partnership with GSR follows Diginex's successful $38.6 million private placement to further invest in and accelerate the roll-out of its digital asset ecosystem, and the launch of its BTC perpetual futures product, both announced in January.
Diginex is a digital assets financial services company focused on delivering a cryptocurrency and digital assets ecosystem offering innovative product and services that are compliant, fair and trusted. The group encompasses cryptocurrency exchange EQUOS.io as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform Diginex Access, a securitization advisory service Diginex Capital, market leading hot and cold custodian, Digivault and funds business Bletchley Park Asset Management. For more information visit: https://www.diginex.com/.
About GSR Markets
GSR, founded in 2013, is a global leader in digital asset trading specializing in providing liquidity, risk management and structured products to global participants in the digital asset ecosystem. GSR's team of veteran finance and technology executives from Goldman Sachs, Two Sigma, Citadel, IBM and Oracle, among others, has developed one of the world's fastest and most robust trading platforms.
GSR works with issuers, traders, investors, miners and exchanges around the world. As a founding member of The Association for Digital Asset Markets (ADAM), GSR is also a leader in establishing and maintaining industry standards and protocols to support the healthy development and evolution of the global digital asset industry. To learn more about GSR, please visit www.gsr.io
Forward Looking Statements
This press release includes forward looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results or outcomes to differ materially from the forward-looking statements. Most of these factors are outside of Diginex's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the ability to recognize the anticipated benefits of the business combination; the ability of Diginex to grow and manage growth profitably; Diginex's limited operating history and history of net losses; Diginex's ability to execute its business plan; the inability to maintain the listing of Diginex's shares on NASDAQ; Diginex's estimates of the size of the markets for its products; the rate and degree of market acceptance of Diginex's products; Diginex's ability to identify and integrate acquisitions; potential litigation involving Diginex or the validity or enforceability of Diginex's intellectual property; general economic and market conditions impacting demand for Diginex's products and services; and such other risks and uncertainties indicated in Diginex's Shell Company Report on Form 20-F, including those under "Risk Factors" therein, and in Diginex's other filings with the SEC, which are available on the SEC's website at www.sec.gov. In addition, any forward-looking statements contained in this press release are based on assumptions that Diginex believes to be reasonable as of this date.
Diginex undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
SOURCE Diginex Limited