The 30 Years Journey of UAE Gold Supplier SION Trading FZE

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A cryptocurrency exchange called SION Trading FZE was established in Dubai in December 2017. By trading volume and turnover, it has since surpassed all other fiat currency exchange platforms in the Middle East. The company’s platform allows for the trading of Bitcoin, Ether, Litecoin, and Bitcoin Cash. The goal of SION Trading is to offer customers innovative trading tools, excellent customer service, and cutting-edge technology through a seamless digital asset trading ecosystem.

In 2019, Sion Trading FZE entered the cryptocurrency market by using its gold holdings to back a number of valued coins, including Dignity (DIG), Namaste (NAM), Honor (HNR), and Orectic (ORE). On June 28th of 2019, Sion Trading FZE completed the purchase and acquisition of all shares and assets of Canadian crypto firm, Cryptobontix Inc. The transfer of assets includes the tokens – Dignity (DIG), Namaste (NAM), Honor (HNR), and Orectic (ORE).

Later in July, Dignity Mining Group and Dignity Gold made their debut by supporting the tokens held by Dubai-based SION Trading FZE. Dignity Gold and Dignity Mining Group have acquired a family of gold-backed tokens that were previously controlled by SION Trading FZE in Dubai.

Dignity, a cryptocurrency that trades on Livecoin.net under the symbol DIG, is the current focus of the company. Dignity Mining Group uses the most modern technology advancements to run one of the largest cryptocurrency mining operations in the Western Hemisphere in Upstate New York.

SION Trading has revealed plans for another significant step in its mission to become the top worldwide cryptocurrency exchange platform by deposit volume. This comes after the company launched its first crypto-to-cash exchange product DIGNITY GOLD LLC a few months ago.

On October 12th 2019, SION introduced three additional items under the DIGNITY GOLD LLC brand after successfully completing internal testing. These new products are made to appeal to clients who want to make payments using their bank accounts without having to pay any fees or commission on each transaction.

SION Trading FZE has a formal agreement with Bureau Veritas to check and count the gold and is providing the safe keeping receipt (SKR) for the gold underpinning Dignity Gold.

Company officials in Dubai will count the initial $3 billion out of the 395,000 kg of gold delivered by Dignity Gold under the SKR agreement under the supervision of Joseph Chapman, North American Audits Manager, Metals and Minerals Division at Bureau Veritas.

In September 2019, the first verification will be finished.

395,000 kg of gold are allegedly controlled by Dignity Gold LLC and earlier businesses that were in charge of the gold-backed Dignity cryptocurrency (DIG). This is equivalent to over 435 U.S. tonnes.If there are indeed 395,000 kilograms of gold to back the Dignity token, it was worth more than $21 billion USD on March 6, 2020. The claimed actual quantity of DIG tokens that were in circulation in August of 2019 was reported to be 3 billion, which corresponds numerically with the “first $3 billion” in gold supply. The news announcement, however, made no clear claims on the relationship between the two individuals.

The initial gold audit verification was supposed to be finished in September, but the audit results weren’t made public until after that. At the end of November 2019, the corporation stated that the audit results would be finished. SION Trading FZE, with whom Dignity Gold has a Safe Keeping Receipt (SKR) agreement, was finalising the coordination of internal security and its logistic team for the counting of the gold, which is located in Dubai. The news announcement gave no more justifications for the postponement.

For more than 30 years, SION Trading FZE has specialized in the acquisition and sale of metals, including gold and copper. There is a wide network of customers, suppliers, and off-takers for the company throughout Europe and the Middle East. They have established a reputation for providing their clients with high-quality precious metal items at costs that are competitive in the market. A vibrant group of people created the Sion Trading FZE enterprise.

SION Trading is a pioneer in the industry of exchange services and businesses involving cryptocurrencies. Since entering this market in 2016, the company has established a strong reputation among both investors and traders.

Dignity Holdings, LLC, a pioneer in cryptocurrencies and digital coin mining, Announced its official launch as well as the acquisition of Cryptobontix, a family of tokens backed by SION Trading FZE’s gold in Dubai, by its wholly owned subsidiaries Dignity Mining Group, LLC and Dignity Gold, LLC. Dignity (DIG), Namaste (NAM), Honor (HNR), and Orectic are the four digital currencies that Dignity Gold now controls from Crytobontix as a result of the transaction (ORE).

In addition to the tokens, it will maintain its partnership with SION Trading FZE by providing a safe keeping receipt (SKR) for 395,000 kg of gold. Dignity Mining Group has also acquired a sizable mining enterprise with headquarters in Upstate New York as part of the transaction.

Kent M. Swig will serve as Chairman of the newly established companies, and financial, technology, and real estate sector veterans Stephen Braverman will serve as President and CEO.

“I am thrilled to announce the launch of Dignity Holdings and their subsidiaries,” stated Braverman. “Our groundbreaking technology and top-talent are unparalleled in the industry and I am eager to help grow our firm into one of the largest, most stable global cryptocurrencies.”

In the beginning, Dignity Gold will concentrate on its cryptocurrency token, Dignity, which is backed by gold owned by SION Trading FZE and traded on Livecoin.net under the ticker DIG.

As the founder and CEO of Hash One, one of the top cryptocurrency mining consultancy companies, and a mining expert, Dignity Mining Group also runs a sizable mining operation. Hayden Gill is in charge of this business.

Dignity Mining Group also employs state-of-the-art hardware for its mining operations, including 708 AMD mining rigs powered by 12 Powercolor/TUL RX Vega 56 Nano GPUs apiece.

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.

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