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 BTLUX as planned according to its regulatory address that 1 North Bridge Road #21-10 High Street Centre Singapore (179094).

The investigators came to 1 North Bridge Road in Singapore for a visit to the exchanges office on December 1, 2023, and located High Street Centre in district 06 of the Downtown core district. The tower is easily accessible via public transports in close proximity to Clarke Quay MRT Station (NE5) and City Hall MRT Station (EW13/NS2).

Upon arrival at the building for further investigation, the survey personnel spotted a directory in the lobby, which, however, didnt display the information concerning BTLUX in column B. According to the security guards, taking photos was strictly restricted.

Then the inquiry team proceeded to the 21st floor via the lift, and discovered that suite 21-10 was actually occupied by “TOLI Corporation - Singapore Branch”, and there wasnt any information regarding BTLUX.

Through 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 BTLUX, 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.