EQONEX Limited, a digital assets financial services company, today announced that it had completed its first ever direct to custody over-the-counter (OTC) non-fungible token (NFT) trade.
The deal is part of a new offering from the company that provides exclusive NFTs through a network of regulated partners and provides storage for the assets within Digivault, the UK’s first standalone custodian to be FCA-registered under the crypto asset regime.
The Bored Ape Yacht Club NFT was purchased through regulated Canadian brokerage Secure Digital Markets, one of EQONEX’s partners, and deposited directly into Digivault. The NFT is held in bank vaults alongside other Digivault crypto assets, diamonds, and silver.
Jonathan Farnell, EQONEX CEO, said, “There is strong demand for secure access to NFTs. By utilizing our network of partners, we will in future also be able to provide exclusive content to our clients. As well as providing them with a best-in-class technology solution that gives the peace of mind that their digital assets are safely held in our FCA-registered custodian.”
Many traditional investors have been put off purchasing NFTs due to the well documented scams, hacks and phishing attacks. In February, $1.7 million in NFTs were stolen following a phishing attack on OpenSea users, one of the largest marketplaces for NFTs.
Robert Cooper, Digivault CEO, said: “Today’s deal is significant because there was no point in our process where the client needed to take custody of the asset, which dramatically reduced their risk of asset loss. We are creating a solution where clients will, in time, be able to directly view their NFTs alongside their crypto balances in the Digivault dashboard and know that the same level of security is applied to their NFT collection as there is for their BTC portfolio.”
The NFT was part of the Bored Ape Yacht Club collection of 10000 unique Bored Ape NFTs— unique digital collectibles living on the Ethereum blockchain.
About EQONEX
EQONEX Limited is a technology-driven digital assets financial services group that provides institutional-grade infrastructure and a full suite of trading, custody and asset management solutions to clients. The Group’s digital assets ecosystem has been designed to accommodate the needs of institutions and individuals with the same degree of regulatory oversight and security they are accustomed to in traditional financial markets. EQONEX’s ecosystem primarily encompasses EQONEX Exchange, a digital asset exchange; Digivault, a FCA accredited hot and cold digital assets custodian and Bletchley Park Asset Management, a fund of crypto-hedge funds.
Photo by Nick Fewings on Unsplash
Read other stories: Linktree Enters Web3 With New NFT
