- EQONEX Limited launches physically backed bitcoin ETN for German investors.
- The physical bitcoins will be held in a separate account by DigiVault.
- The company intends to manufacture more investor products to be offered internationally.
German financial services company EQONEX Limited (NASDAQ:EQOS) has launched its first investor product with a new physically backed exchange-traded note (ETN) on the Deutsche Börse XETRA exchange, according to a press release.
The EQONEX Bitcoin ETN allows German investors to trade back and forth between assets using standard brokerage services, while also giving investors the opportunity to redeem real bitcoins for free with a DigiVault custody account. DigiVault is a Financial Conduct Authority (FCA) registered custody provider for digital assets and is one of a total of 35 entities currently holding this accreditation.
While these services will launch exclusively for the German markets, EQONEX intends to create a more robust set of offerings for the international market.
“Germany makes for an ideal, strategic launchpad for our investment products business, given its sophisticated and highly educated investment community. We see the German market as fertile for a growing suite of EQONEX exchange-traded products,” said EQONEX CEO Jonathan Farnell. See it as land.
EQONEX Head of Investment Products Frank Coplestone echoed Farnell’s sentiment when he said:
“The launch of our investment products business is an important milestone for the company as we continue to grow and focus on offering our clients a broader mix of investment opportunities across Germany and over time in other international markets. “
In addition, EQONEX strives to ensure that its investors will have an additional level of security through its custodial provider, DigiVault, as the company will keep the aforementioned physical bitcoins in a separate account that guarantees that the bitcoins will never be repurchased. can be added. In addition, EQONEX worked with on-chain analytics firm Chainalysis to ensure that the bitcoins held by them are not subject to money laundering or criminal activity.