SINGAPORE, Feb. 9 2022 /PRNewswire/ -- Cryptocurrency
Exchange EQONEX, as part of EQONEX Limited (Nasdaq: EQOS),
today announced the launch of BTC Dated Futures with physical
settlement. This marks an important milestone in the company's
expanding product suite for experienced traders, enabling them to
use commonly deployed derivatives trading strategies in
cryptocurrency markets.
This latest launch by EQONEX follows the introduction of Cross
Collateral functionality, Ethereum (ETH) Perpetual Futures, and BTC
Perpetual Futures in 2021. Dated Futures for additional
cryptocurrencies including ETH will also be available on EQONEX in
the coming months.
A Dated Futures contract enables users to enter into a binding
agreement to buy or sell the underlying asset, in this case BTC, at
a predetermined price at a specified date in the future.
Futures contracts are commonly used to speculate on the
direction of an underlying asset using leverage, and hedge against
price movements.
EQONEX is one of the few exchanges globally to offer
physically-settled futures contracts for cryptocurrencies such as
BTC. EQONEX is able to overcome common security and technical
challenges of physical BTC settlement due to its industry-leading,
secure custody business Digivault and its fiat on-ramp
capabilities.
Andrew Eldon, Interim CEO of
EQONEX said, "We still see a gap in the exchange marketplace to
better serve traders who are looking for safe access to products
and strategies from traditional finance to exploit and hedge
against the volatility of crypto market trading. We are
removing the barriers to entry by delivering a regulated crypto
exchange, and by adding institutional-grade products to our
customers' toolkits."
"We have been very deliberate in building a business that sits
at the intersection of traditional finance and the future of
finance. Those who already understand the merits of basis
trading will be particularly appreciative of this product launch,
but we are also providing educational resources to help those
wanting to learn how to broaden their trading approaches for risk
management or to capture yield."
Overview of EQONEX BTC Dated Futures
- EQONEX BTC Dated Futures are denominated in the USD Coin
stablecoin (USDC) and are linear in that the price of the futures
increases as the price of BTC increases against USDC.
- The expiry of the Dated Future will occur at 08:00 UTC on the final Friday of the expiry
month.
- Physical settlement occurs automatically on the expiry date
which can also remove some hedging risks that exist with
cash-settled contracts.
- Users can trade EQONEX BTC Dated Futures with leverage.
- EQONEX is offering an education program for those seeking to
learn more about futures contracts for cryptocurrency markets, as
well as detailed product specifications here.
About EQONEX Group
EQONEX Group 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.
Follow EQONEX on social media on Twitter @eqonex, on Facebook
@eqonex, and on LinkedIn.
This press release is provided by Eqonex Limited (f.k.a. 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) Eqonex Limited 2022.
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SOURCE EQONEX
