Jaltech secures FSCA authorization for crypto trading services in South Africa

Rick Steves

“The FSCA’s decision to grant Jaltech the CASP license reflects a recognition of the firm’s robust commitment to abide by regulatory requirements, stringent compliance standards, and commitment to investor protection.”

The Financial Sector Conduct Authority (FSCA) has officially granted Jaltech, through its subsidiary Jaltech Digital Asset Holdings, a crypto asset service provider (CASP) license.

Jaltech has thus joined a select group of investment product providers authorized to offer intermediary services for cryptocurrency investments.

The license paves the way for financial advisors, along with institutional and retail investors, to incorporate cryptocurrencies into their investment portfolios, marking a crucial step towards integrating digital currencies into South Africa’s established financial ecosystem.

“CASP license reflects a recognition of the firm’s robust commitment to abide by regulatory requirements”

Gaurav Nair, a co-founder of Jaltech, said: “We are thrilled to be at the forefront of regulatory innovation in South Africa’s financial sector. The FSCA’s decision to grant Jaltech the CASP license reflects a recognition of the firm’s robust commitment to abide by regulatory requirements, stringent compliance standards, and commitment to investor protection.”

The FSCA’s approval signals a positive shift towards institutional and retail acceptance of cryptocurrencies in South Africa, indicating that the country is keeping pace with international advancements in financial regulation.

With global cryptocurrency regulations evolving to embrace digital assets, a surge in investment from both international and local investors in cryptocurrencies is anticipated, reflecting a broadening acceptance of this emerging asset class within investment portfolios.

Jaltech is a boutique alternative investment fund manager based in South Africa, founded in 2010. The firm specializes in managing a diverse range of alternative investments, with over R2 billion in retail investors’ capital under management.

The firm’s investment portfolio includes sectors such as private equity, hospitality, asset rental, cryptocurrency, and private debt. The team at Jaltech consists of experienced entrepreneurs and financial professionals dedicated to creating a transparent, regulated, and accessible investment environment for their clients.

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