SINEGY Receives Full Approval from Securities Commission to Operate a Crypto ExchangeApril 1, 2020 1 comment
SINEGY announced today that they have been granted full approval by the Securities Commission Malaysia to operate its Digital Asset Exchange (DAX) platform in Malaysia. SINEGY is a homegrown crypto exchange based out of Penang, and they were also previously included in our list of top 20 fintechs in Malaysia.
This announcement follows their initial conditional approval granted to SINEGY as a Recognised Market Operator (“RMO”) announced on the 4th June 2019.
As part of the Company’s relaunch efforts, they will be introducing a brand-new corporate identity including Marketplace, the DAX platform which allows for the trading of Bitcoin and Ether against the Malaysian Ringgit.
Marketplace will go-live from today. Existing clients will be able to login and experience a new trading platform, while new clients are able to submit their details for personal and corporate account registrations.
SINEGY is the second to announce that their platform has gone live with regulator approval following Luno who received its approval in October 2019
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Exciting to see new Malaysian exchanges approved for trading. Glad to see that the crypto industry is moving forward in a healthy and strictly regulated manner in Malaysia to prevent bad actors in the crypto space taking advantage of potential adopters.