SimplB is a Bitcoin-only brokerage operating as a Juristic Representative of CAEP Asset Managers, FSP 33933. It provides regulated, FICA-compliant Bitcoin acquisition, custody and security services to individuals, family offices, companies and trusts across South Africa.
| Point | What it means |
|---|---|
| Regulatory status | Juristic Representative of CAEP Asset Managers, FSP 33933, under FSCA oversight |
| Bitcoin only | SimplB does not offer altcoins, tokens or any other digital asset. All services relate to Bitcoin. |
| Brokerage fee | 3% on purchases, disclosed upfront. No hidden charges. |
| Onboarding | Full FICA-compliant identity verification and source-of-funds review before any transaction |
| Client types | Individuals, family offices, companies and trusts |
Regulatory standing and compliance
SimplB operates under the financial services regulatory framework administered by the Financial Sector Conduct Authority. As a Juristic Representative of CAEP Asset Managers (FSP 33933), it is subject to ongoing compliance obligations covering conduct, client suitability and record-keeping.
Every client goes through a FICA-compliant onboarding process before any Bitcoin is purchased. This includes identity verification, proof of address and a source-of-funds review. Purchases are made in the client’s own name, not through a pooled or nominee account. The client owns the Bitcoin directly from the point of acquisition.
SimplB is also registered as a crypto asset service provider (CASP) with the FSCA, which covers its custody activities. This registration applies specifically to the managed vault service described below.
Bitcoin-only means exactly that. No altcoins, no tokens, no exceptions.
Brokerage and DCA services
The core service is a named-account Bitcoin purchase. A client specifies an amount in rand, SimplB provides pricing at the current rate plus a 3% brokerage fee, and once funds are received the Bitcoin is acquired and delivered to the client’s designated wallet or custody arrangement. The fee is stated before any commitment is made.
For clients building a position over time, SimplB offers a structured dollar-cost averaging plan. Regular purchases are scheduled at a fixed rand amount, smoothing entry across market cycles. This is available to individuals and to companies or trusts making recurring allocations.
For larger one-time acquisitions, SimplB connects clients to OTC liquidity. This removes the market-impact cost that would arise from placing a large order through a retail exchange, and provides a fixed settlement price for the full amount.
Self-custody setup
Some clients prefer to hold their own keys. SimplB supports this through a guided hardware wallet setup process covering device selection, initialisation, seed phrase generation and backup. The goal is to make sure the client understands what they hold and how to recover it, not just to get a wallet working.
Seed phrase security is treated as the central risk. The SimplB security guidance covers physical storage options, what not to do (digital photos, cloud backups, sharing with third parties) and how to verify that a backup is correct before it is needed. This process is documented so clients can revisit it later.
Managed multisig vault
The SimplB vault is a 2-of-3 multisignature arrangement. Three keys exist; two are required to move Bitcoin. The client holds two keys independently. SimplB holds one as a CASP-licensed custodian. This structure means SimplB alone cannot move the funds, and the client retains control even if SimplB were unavailable.
The vault is designed for clients who want institutional-grade security without managing all the technical complexity themselves. It suits high-net-worth individuals, family offices and companies holding Bitcoin as part of a treasury or investment mandate.
Inheritance planning is built into the vault setup. SimplB documents a recovery process for heirs or nominated successors, covering what keys exist, where they are held and what steps are needed to access the funds. This documentation is reviewed with the client at setup and updated if circumstances change. The process is designed to work without SimplB’s involvement if necessary, which means a beneficiary can follow the documented steps independently, without needing to contact anyone or rely on a third party being available.
Frequently asked questions
Is SimplB regulated by the FSCA?
Yes. SimplB operates as a Juristic Representative of CAEP Asset Managers, which holds FSP licence 33933. It is also registered with the FSCA as a crypto asset service provider (CASP), which governs its custody activities. Clients can verify both registrations on the FSCA public register.
What does the 3% brokerage fee cover?
The 3% fee covers the full brokerage service: order execution, compliance processing and the named-account purchase in the client’s own name. There are no withdrawal fees or account maintenance charges on top. The fee is disclosed at the point of quote, before any funds are committed.
Can a company or trust buy Bitcoin through SimplB?
Yes. SimplB works with companies, trusts and family offices as well as individuals. The onboarding process for entities requires additional documentation covering beneficial ownership and the source of the funds being used. Once onboarding is complete, the entity can access the same brokerage, DCA and vault services available to individual clients.
What happens to my Bitcoin if SimplB ceases to operate?
For clients using the managed vault, the 2-of-3 multisig structure means SimplB’s key alone cannot move the Bitcoin. The client holds two of the three keys independently. If SimplB were unavailable, a client with both their keys could still access their funds through standard multisig recovery processes. Self-custody clients are not dependent on SimplB at all once the wallet is set up.
Does SimplB offer altcoins or other cryptocurrencies?
No. SimplB is Bitcoin-only. This is a deliberate choice based on the view that Bitcoin is the only digital asset with the properties required to function as a long-term savings instrument: fixed supply, decentralised issuance and a decade-long track record of settlement finality. Clients looking for altcoin exposure will need to look elsewhere.
Sources
- Financial Sector Conduct Authority (FSCA): FSP register and CASP registration framework for crypto asset service providers
- South African Reserve Bank (SARB): exchange control and FICA compliance guidance for financial service providers
- Bitcoin Whitepaper, Satoshi Nakamoto: technical basis for Bitcoin’s settlement finality and fixed supply
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Talk to a Bitcoin SpecialistWritten by James Caw, Founder of SimplB. James has helped South Africans understand, buy and secure Bitcoin since 2015. SimplB operates as a Juristic Representative of CAEP Asset Managers, FSP 33933. Last updated: May 2026.
This article is for general educational purposes only and does not constitute financial, legal, tax or exchange control advice. The information reflects the regulatory position as at the date of publication. Your individual circumstances may differ and you should seek qualified professional advice before making any decisions.
