South African Sygni to Open Crypto Exchange

Sygnia Ltd. is an asset management company, based in Johannesburg
28 May 2018   1151

The investment company Sygnia Ltd., based in Johannesburg (South Africa). intends to launch the SygniaCoin crypto exchange in the third quarter of 2018. This is reported by Bitcoin. com.

Representatives of the company note that Sygniacoin will offer investors a safe trading platform with an international infrastructure, a well-designed system of protection and integration with standard investment products.

We aim to launch SygniaCoin, a cryptocurrency exchange, in the third quarter of 2018. The cryptocurrency market is evolving at a rapid pace internationally and domestically, and is attracting both domestic and international flows. With its fintech focus, Sygnia is well-positioned to become the first major financial services institution to embrace cryptocurrencies and to offer investors a secure trading and execution platform backed by an international infrastructure, well-designed custody, and integration with standard savings products.
 

Magda Wierzycka
CEO, Sygnia

Sygnia Ltd. currently manages assets worth 184 billion rand (about 14.7 billion US dollars). The company's offices are located in Cape Town, Johannesburg and Durban.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   247

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.