The investment management company based in Johannesburg, Sygnia, has announced its intention to launch a platform for the exchange of digital currencies, called Sygniacoin. It should be launched in the third quarter of this year.
Those who have missed this announcement can find the details in English in this video :
Scheduled to launch this year
This south african company has announced that it plans to launch a platform for the exchange of crypto-currency by the third quarter of 2018. Sygnia currently manages approximately $ 14.7 billion of assets and has offices in Durban, Johannesburg and Cape town. The company employs more than 175 employees and is responsible for the management of nearly 6,000 local customers as well as 600 international customers. Magda Wierzycka, the group’s CEO, has stated their intention to launch a stock exchange based on the crypto-currencies in the third quarter of 2018. The market of crypto-currencies is rapidly changing, the international and national level, she added.
Source : Vimeo. A south african company would want to launch a platform for the exchange of crypto-currencies.
Ms. Wierzycka has described this initiative as being one of the many projects enabling at Sygnia to position itself as a leader in the field of finance in South Africa. By focusing on the technologies, financial innovation, Sygnia is poised to become the first financial institution to adopt the virtual currency, and to provide investors with a trading platform that is secure.
Sygniacoin would be based on the regulations of New York
Sygnia has indicated that it intends to operate in this market based on legislative measures in new york city. According to the CEO of the group, they should base their policies and protocols on the existing regulatory framework applicable to the companies of trade of crypto-currencies recorded in New York city.
Concerning the regulations of south africa, Ms. Wierzycka emphasized the taxation of investments and transactions related to virtual currency, in South Africa. The company has also announced its intention to develop an investment fund in crypto-currency for institutional investors.
Source : NewsBitcoin