Diginex, the Hong Kong-based company behind the newly launched EQUOS.io crypto exchange, has raised $20 million ahead of an anticipated Nasdaq listing later this month.

  • The funding was raised by way of a privately placed convertible note with institutions and family offices in Europe and Asia, according to a press statement.
  • EQUOS.io is expected to be the first publicly traded cryptocurrency exchange in the U.S.
  • “Importantly, [the funding round] will help us meet certain listing requirements, paving the way for a successful business combination with 8i on Nasdaq in late September,” Diginex CEO Richard Byworth said in a statement.
  • 8i Enterprises is a special-purpose acquisition company (SPAC). SPACs are the backdoor IPO vehicles that are currently in vogue for tech companies going public.

Read more: A Crypto Derivatives Exchange Is Getting a Nasdaq Listing in Q3

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.