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 BINANCE as planned according to its regulatory address that 1, Wallich Street, #09-03, Guoco Tower, Singapore 078881.

The investigators came to 1 Wallich Street in Singapore for a visit to the exchanges office on December 10, 2023, and located Guoco Tower, a mixed-use development skyscraper, in Tanjong Pagar of the Downtown core district of Singapore. The tower resides at the intersection of multiple prominent neighborhoods as well as amid the Central Business District, the historic Chinatown, and rapidly developing neighborhoods to the south and east.

Upon arrival at Guoco Tower, the tallest building in Singapore, for further investigation, the survey personnel spotted an office directory in the lobby, which, however, didnt display any information concerning BINANCE nor suite 09-03.

Then the inquiry team proceeded to the 9th floor via the lift, and didn‘t discover suite 09-03 from the floor directory. After searching the entire floor, there wasn’t any sign of BINANCE nor room 09-03.

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 BINANCE, 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.