In the recent years, cryptocurrency has become the real deal. In 2017, cryptocurrencies show the unprecedented growth in their value and it got the attention of many corporate giants and one of them is Sygnia Ltd. In this article, we will tell you everything you need to know about the Sygnia and Sygnia cryptocurrency exchange.
History of Sygnia
Sygnia Ltd. Is one of the largest investment management firm in South Africa and they have been the best at what they do. The company launched in 2006 and so far they have managed the assets of over 6000 clients and 600 clients internationally which include the popular figures of the region. The company currently manages the $14.7 billion USD worth of assets and their overall assets have increased by 14% in the last 4 months.
Sygnia Ltd. Have a focus on innovation through technology and that is the reason why the company has applied many innovative ways in the company which attracted a lot of clients in the recent years. The company have its offices in Cape Town, Johannesburg and Durban and have a staff of more than 195 people.
Sygnia Ltd. was founded by Mrs. Wierzycka. She is a businesswoman and she is the richest women in South Africa. Mrs. Wierzycka started this company with the aim to provide the world class financial services in South Africa and they have accomplished this task to a great extent. The company have a good reputation in the region, they also have a large number of trusted clients and the company is also listed on Johannesburg Stock Exchange which is the largest and oldest existing exchange in South Africa.
Sygnia have also performed great in the first 6 months of 2018, the company offers different types of investment to its clients including Sygnia Signature Funds, Sygnia Unit trusts, and Sygnia Specialist funds. In the last 6 months, Sygnia signature funds shown the average growth of 1%, Signature unit trust shown the average growth of 4% and Sygnia special funds also shown the growth of 4% which shows the overall performance of the company.
Now the next step for the company is to tap the interest from investors in the South African region in digital currencies. The company is aiming to open the cryptocurrency exchange in the region which will not only tap the small-scale investors but will also attract the corporate investors.
Sygnia Cryptocurrency Exchange
Sygnia is one of the most trusted asset management company in the South African region and now the company wants to use that trust in the growing market of cryptocurrencies. Cryptocurrencies have shown the tremendous growth in the recent years, especially the cryptocurrencies like Bitcoin and Ethereum are very popular around the world. Bitcoin shown the great potential when its value increased to $19000 in 2017 and many people made a lot of profit from crypto trading. Now Sygnia wants to get into crypto trading and take it to next level. It will be the first corporate giant to enter the crypto world. Sygnia representative said that it 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 saving products”.
Sygnia.io is in a unique position to get into the crypto business as they have the experience of managing the funds of corporate giants and they can use that experience in the crypto business to take it to next level. Sygnia.io is also well aware of the fact that cryptocurrency regulation will most likely to evolve and the company said that “The 2018/2019 budget defined cryptocurrencies as ‘digital assets that may be used as a medium of exchange’. The South African Revenue Service has already indicated that trading and investing in cryptocurrencies are subject to Tax. We expect further regulatory frameworks to follow”.
It is clear here that Sygnia is well aware of the ground situation and they are trying their best to pick the way which will benefit them all. The company has said that they will follow the policies, protocols, and processes of the popular cryptocurrency exchanges working in New York. Please note that New York has one of the strict policies for cryptocurrency exchange and if Sygnia is following the policies of New York-based cryptocurrency exchange this means that the company is preparing itself for strict policies.
The company has aimed to official launch the cryptocurrency exchange on 5th November 2018, however, the company has launched the SOP Buyback event (Private Sale) on 6th August 2018. If you are interested to know more about the SOP Buyback Event then check our article on “How to get good profits from SYG SOP Buyback Event”. Let us know what you think about the Sygnia cryptocurrency exchange in the comment section below.