8i Enterprises Acquisition Corp. (NASDAQ: JFKKU, JFK, JFKKW, JFKKR)
(“JFK” or the “Company”), a special purpose acquisition company,
today announced that Diginex, a digital asset financial services
and advisory company with which JFK entered into a definitive share
exchange agreement dated July 9, 2019, launched its digital asset
exchange EQUOS.io. EQUOS.io. is built to institutional-grade
specifications and designed to improve the experience of trading
digital assets for all market participants. The launch of the
exchange is another important milestone for Diginex in advance of
the planned business combination with JFK, which, upon expected
completion in the third quarter of 2020, will offer investors the
opportunity to participate in the growth of this emerging asset
class via the public markets.
The EQUOS.io platform will feature a fully
functioning digital asset exchange, offering cryptocurrency spot
trading initially, with perpetual swaps, dated futures, options and
other derivatives products to follow, and will provide
interoperability with Diginex’s over-the-counter trading desk,
Diginex Access, a front-to-back integrated trading platform, and
Digivault, the group’s pioneering hot and cold custodian.
EQUOS.io offers innovative products and
significant improvements in transparency. The platform was designed
from the outset to deliver high security standards for users with
critical infrastructure such as segregation of duties, high
performance with low latency, reliable connectivity and platform
stability through volatile markets. Furthermore, EQUOS.io’s spot
exchange is operating under an exemption to the Singapore Payment
Services Act and will provide a fair and transparent platform for
users. These represent key points of differentiation compared to
other major exchanges operating today. As such, EQUOS.io is primed
to become the trading venue of choice for professional and
institutional investors and traders.
In the future, Diginex plans to expand the
EQUOS.io platform to provide a clear and easy to use interface for
retail investors, reimagining and redesigning trading services that
to date have disadvantaged investors on many of the incumbent
platforms. In addition, Diginex plans to add, managed account
features that will improve capital efficiency and collateralization
processes, and risk products that can substantially grow what is a
nascent derivative market.
The launch of EQUOS.io has been achieved thanks
to support received from Endava (UK) Limited, Diginex’s development
partner, who have been instrumental in the build and deployment of
various foundational components of the EQUOS.io platform.
Today’s announcement is a key milestone in
advance of the acquisition of Diginex by JFK expected to occur in
the third quarter of 2020, which includes Diginex group-wide
businesses of EQUOS.io, digital asset trading technology platform
Diginex Access, digital asset custody provider Digivault and the
investment management business Bletchley Park Asset Management.
Alongside the public launch of EQUOS.io, Diginex
has also filed an application for a Major Payment Institution
license to the Singapore regulator, the Monetary Authority of
Singapore, in line with Singapore’s progressive digital asset
regulation, the Payment Services Act 2019. Diginex already operates
in Singapore under a temporary exemption from licensing under the
Act.
About EQUOS.io
EQUOS.io is a digital currency exchange built
for professional investors but designed for everyone. The exchange
is founded on real-world principles of fairness and equality to
encourage liquidity and help build long-term equity. EQUOS.io is
built with the highest quality security and transparency to pave
the way for participation in this emerging asset class. The time
for a new exchange is here. For more information visit:
https://www.EQUOS.io/
About Diginex
Diginex is a blockchain financial services and
technology company. Diginex partners with institutional investors,
corporations, and governments to make digital assets more
accessible, business processes more efficient and secure. Diginex
believes its collaborative approach and pursuit of global
cooperation is optimal to drive institutional adoption of
blockchain technologies and the regulated use of digital assets.
For more information visit: https://www.diginex.com/
About 8i Enterprises Acquisition
Corp.
8i Enterprises Acquisition Corp. is a British
Virgin Islands company incorporated as a blank check company for
the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or
similar business combination with one or more businesses or
entities. The Company's efforts to identify a prospective target
business will not be limited to a particular industry or geographic
region, although the Company intends to focus on targets located in
Asia.
Disclaimer
8i Enterprises Acquisition Corp, a British
Virgin Islands business company (“JFK”), Diginex Limited, a
Singapore public company limited by shares (“Singapore NewCo”),
DIGITAL INNOVATIVE LIMITED, a British Virgin Islands business
company (“BVI NewCo”), and Diginex Limited, a Hong Kong company
(“Diginex”), and their respective directors, executive officers and
employees and other persons may be deemed to be participants in the
solicitation of proxies from the holders of JFK ordinary shares in
respect of the proposed transaction among such persons (the
“Business Combination”). Information about JFK’s directors and
executive officers and their ownership of JFK’s ordinary shares is
set forth in the Registration Statement on Form F-4 jointly filed
by Singapore NewCo and JFK pertaining to the Business Combination
(the “Form F-4”). This document can be obtained free of charge from
the sources indicated below.
The Form F-4 contains a proxy
statement/prospectus for JFK’s shareholders (the “Definitive Proxy
Statement”). JFK has mailed the Definitive Proxy Statement and a
proxy card to each shareholder entitled to vote at the meeting
relating to the approval of the Business Combination and other
proposals set forth in the Definitive Proxy Statement. INVESTORS
AND SECURITY HOLDERS OF JFK ARE URGED TO READ THESE MATERIALS
(INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER
RELEVANT DOCUMENTS IN CONNECTION WITH THE BUSINESS COMBINATION THAT
JFK WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION ABOUT JFK, SINGAPORE NEWCO, BVI
NEWCO, DIGINEX AND THE BUSINESS COMBINATION. The Definitive Proxy
Statement and other relevant materials in connection with the
Business Combination, and any other documents filed by JFK with the
SEC, may be obtained free of charge at the SEC’s website
(www.sec.gov) or by writing to 8i Enterprises Acquisition Corp, 6
Eu Tong Sen Street, #08-13 The Central, Singapore.
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, including the identification of a
target business and potential business combination or other such
transaction, are subject to risks and uncertainties, which could
cause actual results to differ from the forward- looking
statements. These risks and uncertainties include, but are not
limited to, those factors described in the section entitled “Risk
Factors” in the prospectus filed by JFK in connection with its
initial public offering on March 27, 2019. Important factors, among
others, that may affect actual results or outcomes include: the
inability to complete the proposed transaction; the inability to
recognize the anticipated benefits of the proposed transaction,
which may be affected by, among other things, the amount of cash
available following any redemptions by JFK shareholders; the
ability to meet Nasdaq’s listing standards following the
consummation of the proposed transaction; and costs related to the
proposed transaction. Important factors that could cause the
combined company’s actual results or outcomes to differ materially
from those discussed in the forward-looking statements include:
Diginex’s limited operating history and history of net losses;
Diginex’s ability to manage growth; Diginex’s ability to execute
its business plan; 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 the Company or 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 as are discussed in the Company’s prospectus filed in
connection with its initial public offering and the proxy statement
to be filed relating to the business combination. Other factors
include the possibility that the proposed business combination does
not close, including due to the failure to receive required
security holder approvals, or the failure of other closing
conditions.
The Company expressly disclaims any obligations
or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Contacts
For inquiries regarding 8i Enterprises Acquisition Corp.:
William Yap, CFAChief Financial OfficerEmail:
ir@8icorp.comPhone: +65 6788-0388
or
Tony Tian, CFA Weitian Group LLC Email: ttian@weitianco.com
Phone: +1 732-910-9692
For inquiries regarding Diginex:
Heather DaleChief Marketing OfficerEmail:
heather.dale@diginex.comPhone: +852 9274 3312
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