EQONEX Limited announced that it has entered into a strategic partnership with Bifinity UAB (“Bifinity”), a payments technology company that is part of the wider Binance Group and the official fiat-to-crypto payments provider for Binance, the world's leading blockchain ecosystem and cryptocurrency infrastructure provider. Built with a focus on regulation, security and compliance best-practice, EQONEX was the first digital asset firm with an exchange to be publicly listed in the U.S. EQONEX offers regulatory-focused trading services centered around the EQONEX crypto exchange, institutional-grade digital asset investment solutions including an asset manager together with the pending launch of exchange traded products and structured products, and Digivault, an FCA-regulated high security crypto and digital asset custody solution. Under the terms of the strategic partnership, Bifinity will advance a $36 million convertible loan to EQONEX and will work together to maximize business synergies created by this new strategic relationship and capitalize on opportunities to cooperate and further expand their businesses.

In addition, Bifinity will have the right to appoint, from within Bifinity, the Chief Executive Officer, Chief Financial Officer, and Chief Legal Officer of EQONEX as well as nominate two seats on EQONEX's Board of Directors. Both companies will continue to engage in non-binding discussions to explore potential merger opportunities, subject to regulatory approval. The strategic partnership will initially focus on leveraging Digivault as an FCA regulated custodian, strengthening the technology supporting EQONEX Exchange, and expanding Bifinity's geographical footprint through EQONEX's licensing framework.

Both parties will also explore opportunities to grow EQONEX's digital asset investment solutions business.