Diginex Ltd. (NASDAQ: EQOS) stock declined by 4.93% at the last close while the EQOS stock price plunged by 4.43% in the pre-market trading session. Diginex Limited is a financial services firm that specializes in digital assets. Diginex’s main goal is to create a cryptocurrency and digital asset ecosystem with cutting-edge goods and services. Diginex has customers all around the world.
Diginex Limitedrecently rebranded as EQONEX Group, has reported its financial results for the fiscal year ended March 31, 2021. EQONEX is a financial services business specializing in digital assets with an emphasis on fairness, governance, and innovation. EQONEX, a cryptocurrency exchange, as well as an over-the-counter trading platform, are part of the group.
- Revenue growth surged in the fourth quarter of fiscal year 2021, laying the groundwork for revenue growth in fiscal year 2022.
- After adjusting for non-recurring business combination expenditures and fair value adjustments, adjusted EBITDA for the fiscal year ended March 31, 2021 was a loss of US$33.5 million, compared to a loss of US$32.5 million the previous fiscal year.
- EQONEX Exchange went public in July 2020, with average daily volumes reaching US$15.9 million by March 2021, laying the groundwork for considerable volume expansion into fiscal year 2022, with average daily volumes exceeding $180 million in June 2021.
- The launch of their native exchange token EQO’s special issue period in March 2021 resulted in a significant rise in fee paying volume in the first quarter of fiscal year 2022.
Richard Byworth, CEO at EQONEX Group, commented,
They launched our primary business line, the EQONEX cryptocurrency exchange, and became the first firm with a cryptocurrency exchange to list on NASDAQ in this year. They spent a significant amount of time and resources ramping volumes on the EQONEX Exchange to the point where they could start collecting income by the end of fiscal year 2021. While daily trading volumes increased to US$15.9 million by March 2021, they have witnessed this strong growth trend continue, with daily volumes exceeding US$180 million month-to-date in June 2021, with a large percentage of these being fee-paying volumes.