South African investment company launches its own crypto currency exchange

Fund Sygnia Asset Management with total assets of $ 14.5 billion announced the development of their own crypto currency exchange. The new project was named SygniaCoin, trading on the stock exchange will open in the third quarter of 2018. It is reported by Cointelegraph.

The first cryptocurrency exchange in South Africa

The Director General of the investment Fund Magda virica the hopes that the exchange of crypt in the country will become legal thanks to the new exchange. The South African revenue service has already considered the possibility of collecting taxes from trading transactions with cryptocurrencies, says SEO.

The stock market is growing rapidly, attracting both individual and institutional investors. The main task of Sygnia – ensuring maximum security for trading digital assets. We also look forward to the development of new standards in the industry and gradual integration with the international financial institutions.

Terms of use SygniaCoin based on license Regulations, adopted August 8, 2015. Regulations issued by the Department of financial services new York and describes the basic principles of cryptocurrency exchanges in the framework of the law.

In addition to the new exchange, management Sygnia Asset Management is also planning to create a separate Fund for individual and corporate investors. Sygnia customers will be able to keep personal account cryptocurrency in the same way as other types of assets.

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