Diginex’s Byworth: “DeFi is very fringe at the moment, certainly not open to many institutions”

Richard Byworth, CEO at Diginex, spoke with Emmanuel Daniel about his entrepreneurial journey in leading the first digital asset financial services with a crypto exchange to be listed on NASDAQ in the US. One of the key focus of Diginex is to bring digital asset ecosystem to the capital markets through a multi-venue trading platform that plugs into some of the world's largest trading technology companies and portfolio management system providers. With a background in investment banking and the vision to drive decentralisation of finance, Byworth is leading the initiative at Diginex to transform paper-based securities into digital structures that can trade on 'EQUOS', its listed digital asset exchange. The following key points were discussed during the interview: ● Decentralised finance (DeFi) currently faces challenges around creating products and services and a governance framework, including third-party custodians, for institutional clients to be comfortable to trade digital assets seamlessly along with meeting strict compliance protocols. ● Traditional asset exchanges operate in separate liquidity pools and silos and suffer from inefficient and slower settlement processes. Digital asset exchanges solve issues around inefficiencies as one can move from one exchange to the other in the time that it just takes to approve a transaction on particular blockchain. ● The exchange of global asset bases cannot be restricted by disparate regulatory standards and technology can help overcome frictions around locally operated stock exchanges that aim to go global. It is challenging to bring together the idea of DeFi as a delicate balance needs to be achieved among regulatory autonomy, decentralisation and investor protection. ● Bitcoin has emerged as a popular asset class to store wealth as a hedge against the massive inflation of monetary supply owing to pandemic-induced lending. ● Leading central banks across the world are looking to coordinate digital currency research which may have the potential to eliminate intermediaries between issuers of digital currency and end customers. ● Launch of digital currencies and wallets correct payment transfer inefficiencies that governments face in immediately allocating income to masses. The full transcript and video of the interview are available on: RadioFinance: https://bit.ly/36S6Q4n Video on Facebook: https://bit.ly/3gqxKDD LinkedIn: https://bit.ly/33X6lE9 Twitter: https://bit.ly/39V1De8 YouTube: /watch/MGlcB-Acd_qcc Audio on SoundCloud: https://bit.ly/2LglzO5 Spotify: https://spoti.fi/3oxuw3W Apple Podcast: https://apple.co/2It6W96 Follow The Asian Banker on LinkedIn: https://lnkd.in/eSue7G5 Facebook: https://lnkd.in/fD9q6dK Twitter: https://lnkd.in/eYYAFqw Instagram: https://lnkd.in/e5YQsr5 #Trading #DecentralisedFinance #Wallet #Cryptocurrency #Platform

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