Xignal Crypto Exchange Launches With A License From AIFC In Kazakhstan
The decision to launch an exchange in Kazakhstan was made mainly due to the unique geographical position of Kazakhstan, political and economic stability in the republic.
The exchange has already received a license to carry out activities from the Astana International Financial Exchange (AIFC) and participated in a round table where issues of regulation and development of cryptocurrencies and exchanges in Kazakhstan were discussed.
In addition to working with cryptocurrency, it is planned to carry out investment, fintech transactions, as well as transactions for servicing various payments on the exchange.
“Xignal analyzes more attractive blockchain projects for business, monitors funds that are attractive in terms of investment,” said CEO Xignal & MT Ltd, an expert in the field of cryptocurrency and blockchain Park Seung-Ho.
Through the exchange, it will be possible to promptly both start and withdraw funds to other exchanges or to personal “cold” wallets. These operations can be carried out through the use of Bitgo and Henesis wallets. At the moment, the exchange already provides functions such as depositing and withdrawing funds to other external wallets. In the near future, support for fiat currency is planned. Investors will be able to easily carry out transactions through the exchange, as its services are convenient and safe.
“We plan that soon we will be able to link the fiat currency tenge to our exchange. We are already carrying out technical work, we are negotiating with the banks of Kazakhstan on this project. We hope that crypto exchanges will soon be allowed to open accounts in commercial banks of the Republic of Kazakhstan,” said Kim Bom Su. shareholder and Chairman of the Board of Directors of XIGNAL & MT.
The exchange’s trading commission is 0.3%. There is no commission for depositing funds, and the commission for withdrawing funds will depend on the type of cryptocurrency.
Detailed information on commissions can be found here.
The exchange pays special attention to the issue of security. With the help of KYC, AML, IT AUDIT systems, as well as a pool of highly qualified professionals, all dubious transactions that can go through the exchange are blocked. This allows you to clearly control the flow of funds to and from the exchange.Seung Ho Park
Tracking information using various security systems, Xignal Exchange encrypts all personal data of users. As a result, the risk of leakage of investor funds is minimized by distributing and storing three keys from multi-signature wallets. Secure API communication is provided through HMAC authentication, API Secret, whitelisting server IP addresses, and access token authentication.
“Using the KYC identification procedure, which allows us to obtain the necessary information about customers in real time (face analysis and identification of the authenticity of the ID), the platform monitors transactions for risk. By managing the funds of our clients, we minimize all risks by using cold wallets. In addition, the AML service allows you to track and block investors who previously carried out dubious transactions, to identify and control risks by tracking cash flow. In the future, we plan to implement various security systems and create a test environment that will facilitate the search for vulnerabilities, ”added Park Sung-Ho.
“Xignal is gearing up to provide financial services for DeFi, staking, simple internal payments, and an integrated fintech industry, and plans to consistently showcase the results of these preparatory strategies in the first half of next year,” said Madina Pak, CEO of Xignal & MTLtd in Kazakhstan.
The DeFi service is planned to be launched after a complete systematic verification of users’ assets.
