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Robert Cooper, CEO at Digivault - "The beauty of trading Polkadot on the EQONEX exchange is the default custody in Digivault"
October 25, 2021 - Crypto exchange EQONEX has listed the Polkadot (DOT) token on its platform. The Polkadot network is a "game changing" viable alternative to Ethereum according to research published by EQONEX Labs.
Claire Zhao, Blockchain Researcher from EQONEX Labs, has "high hopes" for the performance of the network saying it offers the "perfect trifecta of solutions": blockchain interoperability, decentralised governance, and scalability.
"We're excited to make the token available for trading through a DOT/USDC pairing," said Richard Byworth, CEO of EQONEX Group. USD and USDC are fully fungible on the platform meaning that USD holders can purchase DOT using the USDC market.
The complexity in the Polkadot protocol's design has created challenges for traders with very few custodians able to provide safe storage of the coin, and some other exchanges have had to freeze withdrawals as the protocol pushes changes through.[EQONEX Group custodian Digivault has solved these technical challenges and will provide safe custody and exchange services for DOT.
"The beauty of trading Polkadot on the EQONEX exchange is the default custody in Digivault", said Robert Cooper, CEO at Digivault.
The new DOT listing follows the announcement that Digivault, EQONEX Group's crypto custodian, became the first custodian registered by the UK's Financial Conduct Authority (FCA), to provide secure custody services for DOT.
"We've listed this token due to its contribution to solving the problems of being able to offer interoperability, decentralisation and scalability simultaneously. Polkadot has also designed a ground-breaking blockchain protocol which allows for communication between different blockchains that are then connected, from a security and governance perspective by the core 'Relay Chain'," Mr. Byworth said.
Mr. Byworth noted he expected a high level of interest and activity on the exchange amongst both traders and longer-term investors given recent research that has demonstrated that for institutional investors DOT is the most widely held crypto asset after BTC and ETH.
