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Digivault becomes the first stand-alone digital custodian to receive approval from the FCA to store crypto

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SINGAPORE and LONDON, May 14, 2021 /PRNewswire/ -- Digivault, the secure digital asset custody business of Nasdaq listed Diginex Limited (Nasdaq: EQOS), has become the first stand-alone digital asset custodian to receive approval from the UK Financial Conduct Authority (FCA) to register as a custodian wallet provider under the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) Regulations 2017 (MLR 2017), as amended[1].

The approval represents a key milestone in Digivault's strategy to provide compliant and secure custody services to corporate and institutional investors in crypto assets.

Digivault's cold solution comprises a network of secure third-party vaults owned by renowned vault services provider, Malca-Amit. Crypto assets are stored in a completely off-line environment, and alongside traditional stores of value such as gold and silver.

The warm custody solution combines the best of cold and hot custody by incorporating a physical break on the internet through a series of hardware and software fire walls, so that assets are protected yet readily available.

Digivault provides one of the widest custody offerings, including custodial services for assets in Bitcoin, Ethereum and USDC, as well as other assets that are hosted on ERC-20 and ERC-1400 protocols.

With both institutional investors and corporate treasurers increasingly holding crypto assets as a store of value and hedge against inflation, Digivault is experiencing significant demand for solutions that offer the regulatory oversight and protection that such investors would experience in other asset classes.

The FCA registration also follows a recently announced partnership with Torstone Technology to deliver post trade settlement and digital asset custody to institutional clients via Torstone's settlement platform.

Rob Cooper, CEO of Digivault, said: "We have been delighted to work so closely with the FCA on obtaining this registration. Operating within the FCA's MLR framework provides our clients the assurance that their assets are being custodied within the highest possible standard of governance, control and oversight."

Richard Byworth, CEO of Diginex Limited, said: "The FCA approval is continued validation of our strategy to deliver fair, transparent and compliant crypto products for institutions. Digivault's market leading custody solution is a foundational pillar of the Diginex ecosystem and acts a key enabler to the EQUOS Exchange, OTC and Lending business lines."

[1] Amended by the Money Laundering and Terrorist Financing (Amendment) Regulations 2019. Cryptoassets: AML / CTF regime | FCA. MLR 2017 was implemented under the European Union's 5th Directive on Money Laundering, providing clarity on customer due diligence, terrorist financing prevention, improved ownership transparency of companies and trusts, and sanction enforcement.

About Digivault

Digivault provides digital asset custody that integrates physical and virtual security, giving institutions tangible solutions in a rapidly evolving world. We deliver a powerful custodian that combines multiple layers of protection, eliminating the need for trust in a single person or group of people. As part of a Nasdaq-listed company, we are accountable to the SEC, meaning increased regulation. However, we eliminate the need for trust through our processes and technology, providing our clients with peace of mind. For more information visit: www.digivault.com

Follow Digivault on social media on Twitter @Digivaultglobal and on LinkedIn

About Diginex

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/

Follow Diginex on social media on Twitter @DiginexGlobal, on Facebook @DiginexGlobal, and on LinkedIn.

[2] The Chainalysis 2021 Crypto Crime Report (link)

This press release is provided by Digivault Limited ("Digivault"), a subsidiary of Diginex Limited ("Company" or "Diginex") for information purposes only, is a summary only of certain key facts and plans of Digivault and/or Diginex and includes forward-looking statements that involve risks and uncertainties. Without limitation, the press release does not constitute an offer or solicitation in relation to any securities or other regulated products or services or to make use of any services provided by Diginex, and neither this press release nor anything contained in it will form the basis of any contract or commitment whatsoever. The contents of this press release have not been reviewed by any regulatory authority in any jurisdictions. Forward looking statements are statements that are not historical facts and 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 achieve 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 Digivault and/or Diginex believe to be reasonable as of this date. Digivault and/or Diginex undertake 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. Other than those of Diginex, all names, trademarks and logos in this press release and used in the materials herein belong to their respective owners. Nothing contained on this press release should be construed as granting, by implication, estoppel, or otherwise, any right or license to use any third-party names, trademarks, or logos displayed on the press release without the written permission of such third parties. Copyright Digivault 2021.

SOURCE Diginex Limited