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.

Read this next

blockdag

BlockDAG Offering a Fresh Take on Meme Coin Development Amid Solana’s Challenges and Floki Inu’s Price Fluctuations With 30,000x ROI

Dive into how BlockDAG’s innovative presale, low-code platforms, and potential 30,000x ROI, outperform Solana’s technical hurdles and Floki Inu’s market predictions.

blockdag

BlockDAG Excels With $2.2M In Miner Sales And Moonshot Teaser, Overshadowing Litecoin’s Rally And Dogwifhat’s Market Highs

Explore how BlockDAG’s $2 million Miner Sales & Moonshot Teaser eclipse the Litecoin price recovery and the Dogwifhat all-time high.

blockdag

BlockDAG Leads Top 6 Cryptocurrencies to Buy in 2024 with a Potential Price Surge to $10 Leaving Cosmos, BNB, and Ethereum Behind

Discover the top six cryptocurrencies in 2024, including BDAG’s remarkable growth potential, BNB’s durability, Cosmos’ connectivity, and ETH’s eco-friendly advances.

Retail FX

Weekly Roundup: Prop firm arbitrarily accounts, Interactive Brokers’ CFDs in Japan

FX, Fintech and cryptocurrency markets have been bustling with activity over the past week, as is often the case. Keep yourself informed and ahead of the curve with a curated selection of crucial stories and developments that are most relevant to those engaged in the markets.

blockdag

BlockDAG Redefines Crypto Mining as Presale Tops $18.5M, Outshining Ethereum ETF & Dogecoin Dynamics

The recent approval of the first Ethereum ETF in Hong Kong underscores a significant advancement in the cryptocurrency’s mainstream acceptance. While Ethereum continues to attract institutional attention, the Dogecoin price prediction suggests a possible resurgence, despite its current undervaluation from past highs.

Digital Assets

Bitcoin halving is done: ViaBTC mines historic block 840K

The Bitcoin network has confirmed its fourth-ever halving block, mined by the cryptocurrency pool ViaBTC, according to data from Blockchain.com. This significant event in the Bitcoin ecosystem reduced the mining reward by half, a deflationary measure occurring approximately every four years to control the issuance of new bitcoins and curb inflation.

Retail FX

True Forex Funds now offers Match-Trader and cTrader platforms

Proprietary trading firm True Forex Funds today announced the launch of Match-Trader, a multi-asset trading platform developed by California-based FX technology provider Match-Trade Technologies.

Retail FX

CySEC hits FXORO parent with €360,000 fine

The Cyprus Securities and Exchange Commission (CySEC) has fined MCA Intelifunds, trading as FXORO, a total of €360,000 for multiple violations of the Cypriot investment laws.  

Digital Assets

Binance’s CZ in good mood ahead of sentencing, says partner

Yi He, co-founder of cryptocurrency giant Binance, has shared a positive outlook on the legal situation of the exchange’s former CEO, Changpeng Zhao. Zhao is currently awaiting a sentencing hearing scheduled for April 30 in the United States.

<