Diginex and 8i Enterprises Set for Groundbreaking Merger to Make Blockchain History

Merger Announcement and Approval

Investment holding company 8i Enterprises Acquisition Corp. has gained the green light for a monumental merger with blockchain financial services trailblazer Diginex. The SEC has given thumbs up to this deal, allowing shareholders to discuss its implications during a special meeting scheduled for March 20 in New York.

The Weighty Numbers Behind the Deal

Initially announced last July, this reverse merger is no small potatoes. Valued at a jaw-dropping $276 million (debt included), Diginex shareholders are set to receive an enticing 20 million ordinary shares from 8i, each predicted to sport a handsome $10 price tag. Talk about a stock that could turn heads!

Eyes on Nasdaq: What This Means

Once finalized, the merger holds the promise of positioning Diginex as the first fully diversified blockchain company gracing Nasdaq’s hallowed trading floors. Founder Miles Pelham assures stakeholders that come the end of March, they can expect their stock to be live on the exchange. As he puts it, “Being a listed company is the highest bar in terms of transparency and governance.”

Boardroom Shake-Up: New Faces at Diginex

The deal isn’t just about numbers; it’s also about people. The transition will usher in new board members, including:

• **Jeremy Leong** – COO and counsel at Acton Law LLC
• **Paul Smith** – Former president and CEO of CFA Institute
• **Andrew Watkins** – Ex-partner with PricewaterhouseCoopers in Hong Kong

Other notable figures like CEO Richard Byworth and CFO Paul Ewing will retain their positions, ensuring that experienced hands are still at the helm.

Recent Trends: The M&A Fever in Blockchain

The Diginex and 8i merger is just one of many that highlight the recent wave of mergers and acquisitions within the blockchain industry. Notably, JPMorgan Chase is weighing a merge of its blockchain unit Quorum with Ethereum-centric giant ConsenSys. Meanwhile, French fintech innovators Ingenico and Worldline are preparing for a €7.8 billion buyout, further showcasing that the merger buzz is in full swing.

In the spirit of collaboration, Diginex has also become the first firm in Asia to join the Blockchain Alliance, a nod to their commitment to leading the blockchain revolution.