A cryptocurrency exchange called SION Trading FZE was established in Dubai in December 2017. In terms of volume and revenue, it has since surpassed all other fiat currency exchanges in the Middle East. . The Company’s platform allows trading of Bitcoin, Ether, Litecoin and Bitcoin Cash. SION Trading’s goal is to provide clients with innovative trading tools, excellent customer service and state-of-the-art technology through a transparent digital asset trading ecosystem.
In 2019, Sion Trading FZE entered the crypto market by using its gold holdings to support a number of valuable coins including Dignity (DIG), Namaste (NAM), Honour (HNR) ) and Orectic (ORE). On June 28, 2019, Sion Trading FZE completed the purchase and acquisition of all shares and assets of the Canadian cryptocurrency company, Cryptobontix Inc. The asset transfer includes tokens – Dignity (DIG), Namaste (NAM), Honour (HNR) and Orectic (ORE).
In late July, Dignity Mining Group and Dignity Gold launched backing tokens held by Dubai-based SION Trading FZE. Dignity Gold and Dignity Mining Group has acquired a family of gold-backed tokens formerly controlled by SION Trading FZE in Dubai.
Dignity, a cryptocurrency that trades on Livecoin.net with the symbol DIG, is currently the focus of the company. Dignity Mining Group uses the latest technological advances to run one of the largest cryptocurrency mining operations in the Western Hemisphere in upstate New York.
SION Trading has revealed plans for another major milestone in its mission to become the world’s leading cryptocurrency exchange by deposit volume. This comes after the company launched its first cryptocurrency exchange product DIGNITY GOLD LLC a few months ago.
On October 12, 2019, SION introduced three additional items under the DIGNITY GOLD LLC brand after passing internal testing. These new products are designed to appeal to customers who want to pay with their bank accounts with no fees or commissions per transaction. SION Trading FZE has a formal agreement with Bureau Veritas to verify and count gold and provide Supervisory Receipts (SKRs) for gold as the basis for Gold Dignity.
Company officials in Dubai will charge an initial $3 billion of the 395,000 kilograms of gold delivered by Dignity Gold under the SKR agreement under the supervision of Joseph Chapman, North America Audit Director, Metals and Minerals Division. at Bureau Veritas.
In September 2019, the first audit will be completed.
395,000 kg of gold is believed to have been made by Dignity Gold LLC and the companies previously responsible for the gold-backed Dignity (DIG) cryptocurrency. This is equivalent to more than 435 US tons. If there is indeed 395,000 kg of gold to support the Dignity token, it would be worth over US$21 billion as of March 6, 2020. The actual number of DIG tokens claimed to be in circulation as of August 2019 is 3 billion, which corresponds numerically to the “first $3 billion” of the gold supply. The announcement of the news, however, made no explicit statements about the relationship between the two individuals. The initial verification of the gold audit was scheduled to be completed in September, but the results of the audit were not made public until then. At the end of November 2019, the company announced that the results of the audit would be complete. SION Trading FZE, with whom Dignity Gold has a Secure Receipt (SKR) agreement, is finalizing the coordination of its internal security and logistics team for the gold tally, located in Dubai. The news announcement offered no further explanation for the delay.
For over 30 years, SION Trading FZE has specialized in the buying and selling of metals, including gold and copper. There is an extensive network of customers, suppliers and buyers for the company throughout Europe and the Middle East. They have built a reputation for providing customers with high quality precious metal items at market-competitive prices. A dynamic group of people created the company Sion Trading FZE.
SION Trading is a pioneer in the crypto-related trading and exchange services industry. Since entering this market in 2016, the company has built a solid reputation among investors and traders.
Dignity Holdings, LLC, a pioneer in cryptocurrency and digital currency mining, has announced the official launch and acquisition of Cryptobontix, a line of gold-backed tokens from SION Trading FZE in Dubai, by wholly owned subsidiaries of Dignity Mining Group, LLC and Dignity Gold, LLC. Dignity (DIG), Namaste (NAM), Honor (HNR) and Orectic are the four digital currencies that Dignity Gold currently controls from Cryptobontix Post-Trade (ORE).
In addition to tokens, he will maintain his partnership with SION Trading FZE by providing custody receipts (SKRs) for 395,000 kg of gold. Dignity Mining Group also acquired a large mining company headquartered in upstate New York as part of the transaction.
Kent M. Swig will serve as president of the startups, and finance, technology and real estate industry veteran Stephen Braverman will serve as chairman and chief executive officer.
“I am delighted to announce the launch of Dignity Holdings and their subsidiaries,” Braverman said. “Our disruptive technology and top talent are unmatched in the industry, and I look forward to helping build our company into one of the largest and most stable global cryptocurrencies.”
At first, Dignity Gold will focus on its crypto token, Dignity, which is backed by gold held by SION Trading FZE and traded on Livecoin.net under the symbol DIG.
As the founder and CEO of Hash One, a leading crypto mining consulting firm and mining expert, Dignity Mining Group also runs a large mining operation. Hayden Gill is in charge of this case. Dignity Mining Group also uses state-of-the-art hardware for its mining operations, including 708 AMD mining rigs powered by 12 Powercolor/TUL RX Vega 56 Nano GPUs each.
More than 30 years of experience in investment management and trading securities are brought to the table by Braverman.
He previously held the position of Chief Operating Officer at the centralized cryptocurrency exchange Arbitrage Exchange. He formerly oversaw a discretionary account for a California-based investment fund and traded equities at Clear view Trading Advisors, Inc. Additionally, Braverman worked for Knight Capital Group, Inc. for ten years as the managing director of listed equity trading. He founded the trading technology company Liquid Holdings and served as its first chairman.