On Oct. 1, Diginex became the first crypto exchange operator to list on Nasdaq. Although the business is still in its early stages, a look into Diginex’s operations and filings can give us deeper insights into the exchange industry, historically unknown to the public.
CoinDesk Research presents an in-depth look into Hong Kong-based Diginex, the digital asset financial services company.
Once in the business of cryptocurrency mining, Diginex sold most of those operations in 2018 and changed its focus to developing a digital asset financial services stack that includes an exchange, custodian, trading system and other complimentary business lines.
The company is centered around its institutional-focused exchange, Equos, which competes with several well-established players in a high-risk and competitive environment. Having just launched a few months ago, there is no significant financial information yet available for its exchange. However, recent filings show Diginex’s financial projections for the next three fiscal years.
Management estimates the