Sygnia, the financial services group headed by outspoken businesswoman Magda Wierzycka, plans to launch a cryptocurrency exchange in the 3rd quarter of 2018 that will allow its customers to trade in cryptocurrency . Like Bitcoin ,Litecoin, Plus Many Altcoin.
Sygnia Is The country’s second largest fund manager, which has R181 billion assets under management, disclosed its plans for the cryptocurrency exchange in its interim results published on Friday.
Sygnia is a JSE-listed financial services group offering a range of investment management solutions and administration services to institutional and retail clients in South Africa and abroad.
Sygnia, based in Cape Town, said the launch of the exchange was one of its key initiatives over the next 18 months.
The company added that with its fintech approach, it is well positioned to become the first financial services institution to adopt the standards and offer a secure, reliable international platform designed for international infrastructure products.
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To ensure the highest levels of integrity and safety for customers, the company said it bases its policies, protocols and processes on the regulatory framework applicable to cryptocurrency exchanges registered in New York State, USA.
“We will also be able to offer investors the option of holding cryptocurrencies on the Sygnia Alchemy administration portal, alongside their investments.”
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