EQONEX completes its first "direct to custody" NFT trade with Bored Ape purchase
SINGAPORE, May 24, 2022 /PRNewswire/ -- EQONEX Limited (NASDAQ: EQOS) ("EQONEX" or the "Company"), a digital assets financial services company, today announced that it had completed its first ever direct to custody over-the-counter (OTC) non-fungible token (NFT) trade.
The deal is part of a new offering from the company that provides exclusive NFTs through a network of regulated partners and provides storage for the assets within Digivault, the UK's first standalone custodian to be FCA-registered under the crypto asset regime.
The Bored Ape Yacht Club NFT was purchased through regulated Canadian brokerage Secure Digital Markets, one of EQONEX's partners, and deposited directly into Digivault. The NFT is held in bank vaults alongside other Digivault crypto assets, diamonds, and silver.
Jonathan Farnell, EQONEX CEO, said, "There is strong demand for secure access to NFTs. By utilizing our network of partners, we will in future also be able to provide exclusive content to our clients. As well as providing them with a best-in-class technology solution that gives the peace of mind that their digital assets are safely held in our FCA-registered custodian."
Many traditional investors have been put off purchasing NFTs due to the well documented scams, hacks and phishing attacks. In February, $1.7 million in NFTs were stolen following a phishing attack on OpenSea users, one of the largest marketplaces for NFTs.
Robert Cooper, Digivault CEO, said: "Today's deal is significant because there was no point in our process where the client needed to take custody of the asset, which dramatically reduced their risk of asset loss. We are creating a solution where clients will, in time, be able to directly view their NFTs alongside their crypto balances in the Digivault dashboard and know that the same level of security is applied to their NFT collection as there is for their BTC portfolio."
The NFT was part of the Bored Ape Yacht Club collection of 10000 unique Bored Ape NFTs— unique digital collectibles living on the Ethereum blockchain.
EQONEX Limited (NASDAQ: EQOS) is a technology-driven digital assets financial services group that provides institutional-grade infrastructure and a full suite of trading, custody and asset management solutions to clients. The Group's digital assets ecosystem has been designed to accommodate the needs of institutions and individuals with the same degree of regulatory oversight and security they are accustomed to in traditional financial markets. EQONEX's ecosystem primarily encompasses EQONEX Exchange, a digital asset exchange; Digivault, a FCA accredited hot and cold digital assets custodian and Bletchley Park Asset Management, a fund of crypto-hedge funds.
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Any forward-looking statements in this press release are based on available current market material and management's expectations, beliefs and forecasts concerning future events impacting EQONEX. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, as well as assumptions, which, if they were to ever materialize or prove incorrect, could cause the results of EQONEX to differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements made in this press release speak only as of the date hereof and we disclaim any obligation, except as required by law, to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.
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