Reason for this visit

Singapore takes the lead in establishing a cryptocurrency friendly regulatory environment in Asia-Pacific, having the potential to be one of the crypto centers in the world. The government adopts opening policies calling for Fintech innovation, enabling the country to become the preferred cryptocurrency startup incubator. In the meantime, with an increasing number of institutional investors, Singapore is transforming its role into crypto asset management center by gradually formulating perfect regulatory policies. In an attempt to help investors to gain a more comprehensive understanding of current exchanges in Singapore, WikiBit survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Singapore to visit cryptocurrency exchange CoinRui as planned according to its regulatory address that 20, Maxwell Road, #08-08, Maxwell House, Singapore 069113.

The investigators came to Maxwell House at 20 Maxwell Road in Singapore for a visit to the exchanges office on December 10, 2023.

Upon arrival at Maxwell House in Outram in District 2, which is accessible via the nearest MTRs including Maxwell TE18 and Tanjong Pagar EW15, the survey personnel discovered that the quite old building hadn‘t been completed yet since its reconstruction in 2022. So, CoinRui’s company doesnt exist in the construction site.

Based on the on-site investigation, it is confirmed that the exchange doesnt have a presence at the location.

Conclusion

The survey team went to Singapore to visit cryptocurrency exchange CoinRui, but didn‘t find the company at its regulatory address. This denotes that the company doesn’t have a physical business office at the place. Therefore, investors should be meticulous in choosing the exchange.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.