One of the leading financial companies in South Africa Purple Group announced the addition of bitcoin and Ethereum on its platform GT247.com by giving users the ability to purchase two of its largest in terms of capitalization of cryptocurrencies for Fiat. About it reports the local edition of Business Day.
The decision to start supporting BTC and ETH made in light of the “high demand from customers” and it is noteworthy because for many years the Purple Group led quite a successful trading operation and without cryptocurrency. Add the ability to purchase bitcoin and Ethereum for the South African Rand can thus be considered quite a big event.
In addition, users have the possibility of opening short positions on BTC and ETH that in consideration of the current state of the market, can also be an attractive option.
Note that in South Africa there has been a steady growth of bitcoin and other cryptocurrencies. Residents can buy them at the local exchanges like Luno and Ice3x or through local branches of the large international brokers, for example, Saxo Bank.
“We are seeing greater involvement on the part of international banks and exchanges in the regulation of cryptocurrencies. I suspect in the future they want to see them as a legitimate asset class”, said the trade specialist Group Purple Barry Dumas.
He also believes that there are indications that the cryptocurrency market is starting to stabilize.
“We will see volatility, but not at those levels last year”, — said Dumas.
We will remind, in may of the intention to launch its own cryptocurrency exchange, announced based in Johannesburg Sygnia investment company Ltd. It is expected that this will happen in the third quarter of 2018.
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