Diginex Reports Record Daily Trading Volume of $200 million on its EQUOS Exchange

Diginex, a NASDAQ-listed digital assets financial services company, has reported a daily trading volume of over $200 million on May 20, 2021, in its combined spot and derivatives exchanges, EQUOS.

The trading volume over the period of last 30 days has also shown a huge jump to $2.9 billion over the last 30 days which represents an increase of 40% over the previous period. It has also been helped by the dump in the crypto prices over the same period which led to many traders scramble to trade crypto, either to bail out of the cryptos that they held or to buy them at cheaper prices for the long term.

Richard Byworth, CEO, Diginex said today: “EQUOS is one of the fastest, institutional-grade exchanges to reach these levels of volumes. This is even more impressive given we do not have an internal market maker on the exchange and have robust procedures in place to ensure all volumes are composed of valid trades. Our commitment to offering a fair and transparent trading experience, together with our institutional-grade product and solutions, will continue to drive volumes higher over the long term.”

It is only recently that the exchange tied up with Itiviti to enable portfolio and risk management services on their platform and all this seems to be a part of their plan to grow their services in the coming years.

The exchange, similar to other exchanges like FTX and Binance, has its own native token which is called EQO and the exchange promotes this token and encourages its users to trade this token as much as possible in exchange for benefits like lower fees and other features. In general, the crypto exchanges view this as an additional revenue stream as they hold a part of the token supply themselves and so if the token value grows, the exchange also benefits from it, a strategy used by crypto projects and exchanges as well.

Chi-Won Yoon, Chairman, Diginex, concluded: “Today’s business update highlights the outcome of the work the team has been putting in since our listing in October 2020 with robust levels of oversight and control to support the business strategy. We are executing our roadmap in alignment with the interests of shareholders, customers, employees, and regulators. Our Board, the majority of whom are independent directors, is committed to adhering to the highest standards of transparency and oversight.”

Diginex operates in several jurisdictions and has ensured that it is a regulated entity in all those jurisdictions irrespective of whether it is in Singapore or Switzerland or the UK or the US. Digivault, the custodian for Diginex, also recently received approval from the FCA of the UK to register as a custodian wallet provider.