SINGAPORE, Aug. 30, 2021 /PRNewswire/ — Nasdaq-listed cryptocurrency exchange EQONEX (NASDAQ:EQOS), today announced the launch of Cross Collateral functionality across its platform to enable traders to more effectively manage their collateral when trading derivative products.
With the new feature, traders will be able to use US dollars (USD), USD Coin (USDC), and Bitcoin (BTC) as margin for derivatives trading. EQONEX also intends to expand the assets eligible to be used as margin including EQO.
The launch of Cross Collateral is another milestone for EQONEX as it introduces more trading tools demanded by sophisticated traders, who are seeking to trade crypto portfolios in all market conditions. It follows the introduction of trading Sub Accounts in June, Ethereum Perpetual Futures in March and BTC Perpetual Futures in January.
Cross Collateral gives all customers the opportunity to use multiple assets instead of only USD or USDC to fund their Total Account Margin. This removes the requirement to convert assets into USD or USDC before opening a margined position. In addition, Cross Collateral now allows traders to generate negative USD or USDC balances to handle trading fees, basis payments, and P&L without liquidating any open Cross Collateral positions.
Neil Sheppard, Chief Product Officer at EQONEX, said: “As we continue to improve and upgrade EQONEX our main objective is to facilitate the wider institutional and professional trader adoption of crypto assets.
“Our roadmap to become the premier trading venue of choice for traders sees the introduction of both additional assets that can be used as Cross Collateral as well as a wider range of derivative products and trading features that will benefit from such functionality.”
EQONEX is a digital assets financial services company focused on fairness, governance, and innovation. The group encompasses cryptocurrency exchange EQONEX as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform, Access Trading, a securitization advisory service, EQONEX Capital, market leading hot and cold custodian Digivault, and asset manager Bletchley Park.
For more information visit: https://group.eqonex.com.
This press release is provided by Diginex Limited (“Eqonex”) for information purposes only, is a summary only of certain key facts and plans of Eqonex and includes forward looking statements that involve risks and uncertainties. Without limitation, the press release does not constitute an offer or solicitation in relation to any securities or other regulated products or services or to make use of any services provided by Eqonex, and neither this press release nor anything contained in it will form the basis of any contract or commitment whatsoever. This press release has not been reviewed by any regulatory authority in any jurisdictions. Forward looking statements are statements that are not historical facts and are subject to risks and uncertainties, which could cause actual results or outcomes to differ materially from the forward-looking statements. Most of these factors are outside of Eqonex’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: Eqonex’s limited operating history and history of net losses; Eqonex’s ability to execute its business plan; the rate and degree of market acceptance of Eqonex’s products; failure to obtain the requisite regulatory licenses and qualifications or establish partnerships with entities in certain jurisdictions to satisfy regulatory requirements; changes in laws or regulations; litigation and regulatory risks; Eqonex’s inability to successfully identify, hire and retain skilled individuals; competition; Eqonex’s inability to successfully develop technology to service its business lines and keep pace with rapidly changing technology and client or regulatory requirements; risks of cyber incidents; reliance on vendors and third-party service providers; inability to protect or preserve its proprietary rights and the risk of infringing on the intellectual property rights of others; potential conflict of interest arising from managing different business lines; risks of employee misconduct and manipulation of distributed ledger networks and smart contract technology by malicious actors; risk of Eqonex losing access to its private keys or data loss relating to its digital asset investments; the ability of Eqonex to grow and manage growth profitably; general economic and market conditions impacting demand for Eqonex’s products and services, other business line specific risks and such other risks and uncertainties included in Eqonex’s Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 30, 2021, including those under “Risk Factors” therein, and in Eqonex’s subsequent filings with the SEC, which are available on the SEC’s website at www.sec.gov.
In addition, any forward-looking statements contained in this press release are based on assumptions that Eqonex believes to be reasonable as of this date. Eqonex undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Copyright (c) Diginex Limited 2021.
SOURCE Diginex Limited
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