GreenBank Capital Inc. subsidiary GreenCoinX Inc. has announced the launch of its affiliated crypto currency exchange SiiCrypto. SiiCrypto has been designed to specialize in trading GreenCoinX, which is unique in that it requires user identification, and charges no commission for trades.
The exchange is claimed to be very secure to use due to all client fiat funds being held by a third party – the Swiss branch of ILS World, global provider of independent fiduciary services. This will require a transaction fee of 0.2%. SiiCrypto cannot use clients’ cryptocurrency or fiat funds as SiiCrypto cannot be accessed without client approval. Every user of SiiCrypto is identified to the same “Know Your Customer” standards as exists in the banking system, which the creators hope will alleviate the concerns of people who worry it may be used for illicit activities.
Danny Wettreich, CEO of SiiCrypto, commented: “SiiCrypto is a unique crypto currency exchange that represents the way all exchanges should function. SiiCrypto clients have a very high level of security because client assets cannot be accessed without client sign off. To my knowledge, no other crypto currency exchange in the world offers such assurance to traders. Furthermore, SiiCrypto charges no commission. I believe that SiiCrypto will be the prime digital exchange service for worldwide trading of GreenCoinX.”
SiiCrypto clients can trade GreenCoinX for US dollars, euros, Canadian dollars, British pounds sterling and bitcoin. Bitcoin users will need to complete KYC identification in order to open a SiiCrypto account; anonymous bitcoin owners who decline to be identified will be refused use. A free GreenCoinX online wallet has been provided.
The first government in the world to welcome GreenCoinX was the Isle of Man, whose Minister for Economic Development remarked: “GreenCoinX has the potential to make a significant difference in the digital currency arena.”