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Paxtradings Crypto Minute: May 26, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: May 26, 2018

Sygnia Ltd. To Launch Cryptocurrency Exchange in South Africa Later This Year

Sygnia Ltd., a South African money manager, announced it is starting a cryptocurrency exchange in Q3 2018. According to Bloomberg, the launch of this cryptocurrency exchange reflects the growing interest in cryptocurrencies among South Africans. The new exchange, called SygniaCoin, will “offer investors a secure trading and execution platform backed by an international infrastructure, well-designed custody and integration with standard savings products,” The company currently manages 181 billion rand (USD 14.5 billion) worth of funds.

Circle to Launch Investment Product Designed for First-Time Cryptocurrency Investors

Cryptocurrency startup company, Circle, has announced the launch of a new investment product of cryptocurrency offerings called “Buy the Market.” According to the Bitcoinist, this new product is designed for first-time cryptocurrency investors. The investment tool features Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Zcash, Monero, and Ethereum Classic. Circle is backed by Goldman Sachs and recently completed a successful investment round after announcing plans for a stablecoin tied to the U.S. dollar.

Local Man Dies While Accompanying Group on Mount Everest to Bury Hard Drive Holding ICO’s Tokens

One man has died after a Ukrainian social media network, ASKfm, encouraged “crypto enthusiasts” to climb Mount Everest and bury a hard drive holding USD 50,000 worth of cryptocurrency. As reported by CNBC, the man, who was one of the local Nepalese Sherpas accompanying the group, died while making the trip. ASKfm is currently conducting an ICO and made the challenge as a part of a marketing campaign. A spokesperson with ASKfm stated that the cryptocurrency is based on an “estimate of their value once the pre-sale and ICO launch.”

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