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Tag: Eqonex Group

Out! Strategic Binance Partner Eqonex Fell Victim To Crypto Contagion!

Crypto Ben -
As recently as March 2022, Binance announced a strategic partnership with Singapore-based Eqonex Group and granted a $36 million convertible loan. In February, Eqonex had reportedly become the first crypto company to receive a listing on NASDAQ via a SPAC construction. Eqonex also has an FCA-registrated custody arm, Digivault Limited. It looked like a promising partner for Binance. Now the group seems to be a victim of crypto contagion. Binance has stopped funding it.

Binance Partner EQONEX Launched Bitcoin Exchange Traded Notes!

Crypto Charlene Lensburg -
The Nasdaq-listed digital asset financial services venture EQONEX Limited announced the launch of its BaFIN-approved USD-denominated Bitcoin Exchange-Traded Note (ETN) available on the German XETRA Exchange. In July, they already launched a Euro-denominated ETN, providing direct investment exposure to bitcoin via an exchange-traded product. Investors can trade in and out of ETNs via their existing brokerage accounts with Euro or USD. EQONEX is part of the Binance Group of companies.

Regulatory concerns! The UK FCA really does not like crypto giant Binance!

Crypto Payments Charlene Lensburg -
Early this week, the UK Financial Conduct Authority (FCA) said that it would be aware of the announcement made by the Eqonex Group and the Binance Group confirming that an entity called Bifinity UAB will advance a US$36 million convertible loan to Nasdaq-listed crypto exchange Eqonex. Bifinity has acquired some specific contractual rights over Eqonex Limited through this loan. The Lithuanian Bifinity is the official fiat-to-crypto payments provider for the Binance Group launched on 7 March 2022.

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