The digital asset financial service provider, Diginex, has today announced it’s strategic partnership with GSR Markets, which is a leading player within the crypto spot and derivatives market-making space.
Diginex’s partnership with GSX follows a successful private fundraise from Diginex, which managed to raise an impressive $38.6 million. It is understood that the company will be using these funds to accelerate the launch of its BTC perpetual futures product, along with its own digital assets ecosystem.
Under this partnership with Diginex, GSR will be aiming to become one of the main liquidity providers for Diginex’s crypto exchange, EQUOS, and the company will also become a shareholder in Diginex. As one of the major liquidity providers on EQUOS, GSR will also provide liquidity to all markets on the platform, including the ERG/USDC, BTC/USDC, and the BTC perpetual futures product – something which was recently launched on EQUOS.
GSR will also be assisting Diginex in rolling out its future product roadmap, as well as options and dates futures.
A Key Partnership
According to Richard Byworth, CEO of Diginex:
“As an exchange that avoids the conflict of interest of making markets against its own participants, the partnership with GSR is key to growing the depth and liquidity in all our trading pairs.”
It is important to note that this latest partnership follows an uptick in activity on EQUOS since the launch of its BTC Perpetual product. This has led to an increase in the overall volumes on the platform, and the current trading volume has gone up 2.5 times compared to December levels.
Moving forward, Byworth expects that this latest partnership between GSR and Diginex will provide further depth on Diginex’s trading platform, whilst GSR’s involvement with EQUOS will also contribute to further trading volume increases as liquidity and spreads improve.
Spot And Derivative Markets
Diginex will be aiming to create a high-performance spot and derivative market for emerging asset classes. It is important to note, however, that the company will also be focusing much of its time and resources to ensure that markets are fair, secure, and regulated.
According to Jakob Palmstierna, Partner at GSR:
“With Nasdaq governance structures and leadership from both crypto and institutional finance, the EQUOS team are an obvious strategic partner.”
GSR has had a history of partnering with similar organizations, and ones which have similar objectives of building fair, robust, and liquid markets. Furthermore, with its governance structures and leadership team being greatly influenced by Nasdaq, the partnership between EQUOS and Diginex appears to be a monumental one, especially given the recent surge of institutional interest and participation within the crypto space.
A partnership to keep a close eye on.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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