EQONEX Launches Physically Backed Bitcoin ETN In Germany – Bitcoin Magazine
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- EQONEX Restricted introduced a bodily backed bitcoin ETN for German investors.
- Actual physical bitcoin will be custodied by Digivault in a segregated account.
- The enterprise intends to establish out more investor products and solutions to be made available internationally.
German financial solutions company EQONEX Minimal (NASDAQ: EQOS) has released its initial trader merchandise with a new physically backed trade-traded observe (ETN) on the Deutsche Börse XETRA Exchange, in accordance to a push release.
The EQONEX Bitcoin ETN makes it possible for German buyers to use typical brokerage products and services to trade again and forth concerning the asset while also allowing for investors the option to redeem genuine bitcoin for free of charge with a Digivault custody account. Digivault is a Money Conduct Authority (FCA) registered custody provider for digital belongings and is a person of only 35 total entities that now maintain this accreditation.
While these products and services will start particularly for German marketplaces, EQONEX intends to make out a additional strong set of choices for the international phase.
“Germany would make an great, strategic launchpad for our Investment decision Products company, supplied its complex and very educated financial investment neighborhood. We see the German market as fertile ground for what is probably to be a escalating suite of EQONEX trade-traded goods,” EQONEX CEO Jonathan Farnell stated.
Frank Copplestone, EQONEX head of investment decision products and solutions, echoed Farnell’s sentiment when he explained:
“The start of our Investment decision Merchandise enterprise is an critical milestone for the company as we dedicate extra interest and focus in the direction of offering a broader mix of expense options to our clients across Germany and in time, to other global marketplaces.”
Also, EQONEX seeks to assure that its traders will have an extra stage of stability as a result of its custodial service provider, Digivault, as the enterprise will keep the aforementioned actual physical bitcoin in a segregated account which assures the bitcoin can’t be rehypothecated. In addition, EQONEX worked with on-chain analysis organization Chainalysis to make certain the bitcoin they have custodied has not encountered income laundering or prison activity.
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