A major investment firm called Sygnia Asset Management from South Africa has announced that it will launch a cryptocurrency exchange according to news outlet BusinessTech. The firm that manages currently $14.5 billion in assets has decided to open an exchange that will run under the name of SygniaCoin. The exchange is planned to be running from the 3rd quarter of 2018.

“We aim to launch SygniaCoin, a cryptocurrency exchange, in the third quarter of 2018,” said Magda Wierzycka, CEO of the company. “The cryptocurrency market is evolving at a rapid pace internationally and domestically and is attracting both domestic and international flows.”

She added that Sygnia focuses on offering a secure trading option with a professional execution platform. The operational and security policies will be based on the BitLicencse framework, which is adopted by New York state’s Department of Financial Services as well. Trading is not the only service that the company plans to offer, long term investors will also be happy to see that Sygnia will facilitate holding cryptocurrencies in their Sygnia accounts besides their other investments. A dedicated fund is also considered that would let investors get into a range of digital assets easily.

South Africa’s central bank has not made it very clear on how they stand with cryptocurrencies officially, however, Wierzycka expects that the government will introduce straightforward guidelines in the near future. One thing is for sure, the government has announced that trading and investing in cryptocurrencies are going to be subject to taxation.