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 cryptocurrency 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 ProEX as planned according to its regulatory address that 2 Kallang Avenue, #09-02 CT HUB, Singapore.

The investigators came to 2 Kallang Avenue in Singapore for a visit to the exchanges office, and located CT Hub, a commercial building known for its cutting-edge modern working environment and excellent business amenities.

Upon arrival at the building, the survey personnel spotted a directory in the lobby, which, however, did not display the company name or logo of ProEX. And suite 0902 on the 9th floor was occupied by Intel Wise Pte Ltd. Following an investigation, there was no link between Intel Wise Pte Ltd and ProEX. The inspection team then took the elevator to the 9th floor but still failed to find any sign of the exchange.

Through the on-site investigation, it is confirmed that ProEX does not have a physical presence at the location.

Conclusion

The survey team went to Singapore to visit cryptocurrency exchange ProEX but did not find the company at its regulatory address. This denotes that the company does not 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.