Having been founded in July 2017 with a mission to foster financial inclusion to Malaysia, SINEGY witnessed first hand the resistance to, and slow adoption of innovative technologies in Malaysia and neighbouring nations.
South East Asia was, and still is, rapidly falling behind the rest of the world in key areas such as Fintech, A.I. and blockchain technology.
Despite the recent efforts and good intentions of Bank Negara Malaysia with their Fintech sand box framework, there remains a clear need for private capital investment into blockchain technology and cryptocurrency infrastructure in South East Asia - or else see the rest of world race even further ahead in this exciting new asset class.
SINEGY began its journey by delving into the global cryptocurrency ecosystem, establishing relationships and connections to the world's leading cryptocurrency exchanges and businesses.
Leveraging these new connections and the founding team's financial and trading experience, the company set up an arbitrage trading operation to take advantage of the fact that there is no unique global price for Bitcoin and other Cryptocurrencies.
Buying various cryptocurrencies where supply was plentiful (e.g. Europe) and selling where it was in demand (e.g. Malaysia), SINEGY was able to profit from the inefficiencies in the global market.
As the 2017 bull run turned into a dangerous bubble and the constantly evolving global market became saturated with new 'get-rich-quick' entrants, SINEGY realised it had to look to the future.
Having built up credibility and expertise in the space, the company refocused its efforts and re-invested its capital into developing technology.
As a Malaysian company, SINEGY focused on the needs of the Malaysian market and set about building a safe and regulatory compliant environment for Malaysian traders to conduct their cryptocurrency trading activity.
Having observed and traded on virtually every exchange in the global ecosystem, SINEGY's vision was to incorporate the best practises of existing exchanges, add unique proprietary features, and be fully compliant with traditional financial regulations before they come into force in our region.
The fruits of our labour over the past 12 months: