Management Call to Discuss Fiscal Year 2021 Financial Results and Business Updates for the First Quarter of Fiscal Year 2022 on July 14, 2021

Singapore: Diginex Limited (Nasdaq: EQOS), recently rebranded as EQONEX Group (“EQONEX” or the “Company”), a digital assets financial services company, today announced business updates for the first quarter ended June 30, 2021 of fiscal year 2022. 

First Quarter of Fiscal Year 2022 Business Update Highlights

·       Revenue for the first quarter was US$2.5 million, over eight times higher than revenue from the previous fiscal year of US$0.3 million 

·       The trend of revenue moved incrementally higher through the quarter from US$0.3 million for fiscal year 2021 to US$0.6 million, US$0.8 million, and US$1.1 million in April, May, and June, 2021, respectively

·       Exchange revenue for the first quarter was $2.4 million, compared to $0.2 million for the entire prior fiscal year

·       Average daily volumes on EQONEX Exchange in June 2021 were US$176.9 million, an increase from US$15.9 million in March 2021

·       Assets Under Management for Bletchley Park Asset Management were US$21 million as of July 1, 2021 compared to US$9.6 million as of March 31, 2021

·       Assets Under Custody for Digivault were US$54 million as of June 30, 2021, compared to US$11.1 million as of March 31, 2021

·       Cash and cash equivalents and liquid assets were $42.1 million as of June 30, 2021

Richard Byworth, Chief Executive Officer at EQONEX Group, said: “Fiscal year 2022 is set to be yet another transformative year for EQONEX. Throughout the past year, most of our core business lines began operations which positioned us to start the new fiscal year rapidly scaling our business. As we began the quarter, EQONEX Exchange saw explosive growth in trading volumes and was able to transition from a more incentivized fee structure to one where the vast majority our trading volumes are fee paying, resulting in substantial and sustainable revenue growth. The Exchange generated US$2.4 million in revenue during the quarter with commission rates now coming into our targeted average range of 2-4 basis points per trade.”

“Launched in April this year, the EQO token has been instrumental in driving that growth. Investors have realized that by trading on EQONEX Exchange, their profitability can be significantly enhanced due to the structure of the token. EQO, and the growth in volumes it has generated, have acted as a fly wheel for market makers and institutional clients alike in joining the platform. In the traditional financial world, we say flow begets flow, and here it is no different. As we add more participants and grow our supporting ecosystem it becomes very apparent to all stakeholders that our exchange is creating quite a differentiated profile of flow.” 

“The structural design of our ecosystem means market volatility is good for business: directional moves matter less. While the remaining parts of our business did not contribute materially to revenues yet, they are primed to do so as the year continues. Volumes, assets and revenues are all increasing as traction with our key targets of institutional clients grows. This fiscal year will no doubt be yet another transformative year for the company, and we look forward to delivering increasing value to our shareholders.”