EQUOS, operator of the crypto exchange, to list on Nasdaq via reverse merger

The Hong Kong blockchain company Diginex is preparing to list on Nasdaq via a reverse merger. The EQUOS firm that operates the crypto-derivatives exchange said in a blog.

To go public, Diginex plans to acquire 8i Enterprises Acquisition Corp, whose shares trade on Nasdaq. The closing of the deal is expected in September.

The deal was first announced in July last year, with a planned completion in March. Due to stock market turmoil tied to the economic impact of COVID-19, the acquisition was postponed indefinitely.

The U.S. Securities and Exchange Commission re-approved the deal. 8i shareholders’ vote will take place on September 15. Between September 20 and 23, the company’s stock will be swapped for Diginex shares.

The statement also said that EQUOS.io, the cryptocurrency exchange that is part of Diginex, would become the first exchange-listed platform of its kind in the United States.

At the end of last week, Grayscale Investments’ CEO Barry Silbert noted that this year an influx of cryptocurrency companies on stock exchanges via SPACs is expected. He said SPAC specialists are active in the industry.

SPAC pitches coming my way from every direction. Methinks we’re going to have some publicly traded crypto companies this year…

— Barry Silbert (@barrysilbert) July 25, 2020

Earlier in July, plans by Norwegian investment firm Arcane Crypto to list on Nasdaq Nordic via a reverse merger were disclosed. Media also reported that Coinbase, the largest cryptocurrency company in the United States, intends to go public.

In 2018, a major alcohol distributor bought a controlling stake in Diginex.

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