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 the 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 wirex as planned according to its regulatory address that 36 Robinson Road, #02-106, City House, Singapore 068877.

The investigators came to 36 Robinson Road in Singapore for a visit to the exchanges office on November 10, 2023, and located City House, a 23-storey office building close to Raffles Place station, as well as Telok Ayer and Downtown MTR stations. Its strategic location within the Central Business District (CBD) puts it close to The Arcade and Lau Pa Sat where an array of eateries, services, and amenities are available.

Upon arrival at the building for further investigation, the survey personnel spotted a digital directory in the lobby, which displayed that the 2nd floor is occupied by WeWork Singapore Pty, without any information related to wirex.

Upon access to the 2nd floor, the investigation team didnt see any company other than WeWork, a co-working space with access system. It could be seen through the glass door that there was no company name nor logo of “wirex” in the shared office.

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

Conclusion

The survey team went to Singapore to visit cryptocurrency exchange wirex, but didn‘t find the company at its regulatory address. This indicates 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.