Diginex announced the spin-off its blockchain technology enabled Solutions business, to focus its efforts exclusively on its digital asset and cryptocurrency offering. This decision to strategically consolidate the Diginex group around its core markets divisions, comes in advance of the planned business combination with 8i Enterprises Acquisition Corp, the Nasdaq-listed special purpose acquisition vehicle (JFK US) expected in the third quarter of 2020.
Following a strategic review, the decision was made to divest the Solutions business on May 15, 2020 in order to concentrate exclusively on the expansion of the digital asset financial services business, where the company has deep operational expertise and a strong product offering. Diginex will now focus on providing institutional access to digital assets via enterprise-grade infrastructure for exchange, custody, capital markets, trading, and asset management.
The spin-off of Diginex’s blockchain technology enabled Solutions business will enable both companies to focus on their offerings and tailor capital investment more efficiently.
Commenting on the announcement, Richard Byworth, CEO of Diginex, said: “Following an extensive review, we have concluded that the divestment of solutions allows Diginex group to address the core opportunity around virtual currency and digital assets. As we prepare for our debut on Nasdaq, it is the optimal time for us to sharpen our focus around the huge potential of this new asset class. The Diginex Group business now encompasses our digital currency exchange EQUOS.io, trading platform Diginex Access, our market-leading hot and cold custodian Digivault, and funds business Bletchley Park Asset Management. The Diginex Solutions business will remain a key partner as the digital asset landscape matures and their ESG focused solutions become an even more critical part of investment mandates for asset managers globally.”
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Diginex is a digital asset financial services and advisory company focused on delivering innovative products, architecture, and infrastructure to foster the mainstream adoption of the digital asset class. The group encompasses cryptocurrency exchange and over-the-counter (OTC) trading operations EQUOS.io, a front-to-back integrated trading platform Diginex Access, market-leading hot and cold custodian Digivault, and funds business Bletchley Park Asset Management. Follow Diginex on social media on Twitter @DiginexGlobal, on Facebook @DiginexGlobal, and on LinkedIn.
8i Enterprises Acquisition Corp, a British Virgin Islands business company (“JFK”), Diginex Limited, a Singapore public company limited by shares (“Singapore NewCo”), DIGITAL INNOVATIVE LIMITED, a British Virgin Islands business company (“BVI NewCo”), and Diginex Limited, a Hong Kong company (“Diginex”), and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of JFK ordinary shares in respect of the proposed transaction among such persons (the “Business Combination”). Information about JFK’s directors and executive officers and their ownership of JFK’s ordinary shares is set forth in Singapore Newco’s Registration Statement on Form F-4 jointly filed bv Singapore NewCo and JFK pertaining to the Business Combination (the “Form F-4”), filed with the Securities and Exchange Commission (the “SEC”), as modified or supplemented by any Form 4 filed with the SEC since the date of such filing. . These documents can be obtained free of charge from the sources indicated below.
In connection with the Business Combination, Singapore NewCo has filed, and the SEC has declared effective, the Form F-4, which includes and serves as a proxy statement/prospectus for JFK’s shareholders. JFK mailed the definitive proxy statement/prospectus and a proxy card to each shareholder entitled to vote at the meeting relating to the approval of the Business Combination and other proposals set forth in the proxy statement. INVESTORS AND SECURITY HOLDERS OF JFK ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE BUSINESS COMBINATION THAT JFK WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT JFK, SINGAPORE NEWCO, BVI NEWCO, DIGINEX AND THE BUSINESS COMBINATION. The definitive proxy statement/prospectus and other relevant materials in connection with the Business Combination (when they become available), and any other documents filed by JFK with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to 8i Enterprises Acquisition Corp, 6 Eu Tong Sen Street, #08-13 The Central, Singapore.