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Proof of Reserves – Crypto Custody report

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Revix, the Cape Town-based investment platform backed by JSE Listed Sabvest, has partnered with Mazars, a leading global audit, tax and accounting partner, to independently verify that it securely holds all of its customers’ cryptocurrencies.

The Crypto Custody report released by Mazars on 1 October 2021 makes Revix the first crypto service provider in South Africa to independently verify that it holds all of its customers’ cryptocurrencies.

The Crypto Custody report can be downloaded from the Revix website — — and aims to bring trust and transparency to the cryptocurrency industry where regulators have been slow to adapt, and various crypto scandals have left South African investors worse off, with no one to turn to.

Sean Sanders, the CEO and Founder of Revix, explains: “This is a big step forward in the South African crypto landscape, as we hope to set the standard for other crypto platforms. The security measures and risk management procedures that crypto platforms implement to protect their customers’ cryptocurrency holdings are the most important areas that regulators seem to be missing. This independent report from a top international audit, tax and advisory firm leading the cryptocurrency space is a step forward in further developing the cryptocurrency industry in South Africa.”

Wiehann Olivier, Audit Partner and Digital Asset Lead at Mazars South Africa, said: “The proof of reserve report was designed to give users of various digital asset platforms the needed reassurance in the current unregulated industry and therefore will be a fundamental advantage to stakeholders. We are optimistic that the trend of proof of reserve reporting will be followed by other South African and International virtual asset service providers like Revix to add to the credibility of the industry as well as ensuring a safer investment environment.”

Revix brings simplicity, trust and great customer service when investing in cryptocurrencies. Its easy-to-use online platform enables anyone to securely own the world’s top cryptocurrencies in just a few clicks. Revix guides new clients through the sign-up process to their first deposit and first investment. Once set up, most customers manage their own portfolio but can access support from the Revix team at any time.

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