Diginex Techniques Nearer to Backdoor Nasdaq Listing as SEC Approves Merger

Blockchain companies organization Diginex is closer to listing on Nasdaq after the Securities and Trade Fee (SEC) accepted its bid to merge with publicly traded 8i Enterprises Acquisition Corp. on Friday.

The $276 million offer will now be put before 8i’s shareholders for acceptance at a March 20 special meeting, according to a push launch.

If recognized, the merger will permit Diginex, a private corporation centered in Hong Kong, to bypass lots of of the standard regulatory boundaries affiliated with launching an first community giving and be shown on the Nasdaq Stock Industry in what’s recognised as a backdoor listing.

The two corporations have been functioning towards a merger due to the fact very last July. Diginex shareholders would obtain 20 million everyday shares in 8i, valued at $10 just about every, according to a previous report.

Diginex develops tools for institutions with a concentration on electronic assets, as perfectly as a investing and custody platform. 8i is a British Virgin Islands-centered blank check out corporation.

The very last yr has witnessed Diginex leap different regulatory hurdles to become the first organization to move the Hong Kong Securities and Futures Commission’s framework for crypto money in November.

Disclosure Go through Much more

The chief in blockchain news, CoinDesk is a media outlet that strives for the best journalistic requirements and abides by a rigorous established of editorial policies. CoinDesk is an unbiased functioning subsidiary of Digital Currency Team, which invests in cryptocurrencies and blockchain startups.