CoolBitX is one of the largest crypto-security companies. It invented the first Bluetooth-enabled wallet for digital assets. CoolBitX recently announced a partnership with a leading Japanese exchange SBI VC Trade and the launch of Sygna. SBI VC Trade has partnered with CoolBitX to adopt its technology.
The technology offered by CoolbitX is Sygna. Sygna aims to solve transaction and security issues for the ordinary people and institutions by using Virtual Asset Service Providers (VASPs). Meaning that its technology is allowed to represent third party asset owners and conduct transactions like the exchange of virtual assets of digital currencies.
CEO of CoolBitX, Michael Ou, has stated that Sygna is revolutionary in the market. The technology uses strict KYC/AML guidelines that is laid out by the FATF, which is an international legal body between countries that promotes standards, legal implementation, regulatory and operational measures to prevent illegal movement of money and assets. The partnership with SBI VC Trade will give CoolBitX a significant boost. SBI VC has a massive influence over the Japanese and the international markets. CoolBitX will then be able to promote its technologies like the KYC/AML solution, CoolXWallet, and Sygna in these different markets.
(Michael Ou, CEO of CoolbitX)
CoolBitX provides two primary services:
1. A digital wallet CoolWallet S or CoolXWallet. These are used to trade cryptocurrencies.
2. The newly launched Sygna Bridge focuses on helping large cryptocurrency organizations to comply with strict official guidelines.
CoolBitX has a long history associated with SBI VC. In 2018, the first CoolWallet S was adopted by SBI VC in the early stages, which was later customized with the name CoolXWallet. Users benefit significantly from this partnership as customers are able to withdraw digital assets to their CoolXWallet after going through the KYC.
Yoshitaka Kitao, CEO of SBI VC Trade, was really proud of this partnership with CoolBitX. He said that Japan has always wanted to make progress in the field of cryptocurrencies after being the first country in the world to define the term Virtual Currency back in 2017. He is grateful that CoolBitX is bringing innovation to the blockchain industry. SBI VC Trade is very positive in working with CoolBitX and are hopeful about their future endeavours together.
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