Singapore, Singapore – September 9, 2021 (Newsfile Corp.) (Investorideas.com Newswire) BitDATA Exchange (BitEx) Singapore, a homegrown regulated crypto assets exchange, continues to enhance its platform with a user-centric mobile app as part of the growth strategy. Following the launch of the BitEx online trading platform (www.bitex.sg) in Q3 2021, the mobile app will further strengthen BitEx’s position as one of the emerging crypto assets exchanges in Singapore as well as to cater to the rapidly growing clientele list.
The central bank and financial regulatory authority of Singapore, Monetary Authority of Singapore (MAS), has granted BitEx an exemption from holding a license under the Payment Services Act (“PS Act”) for providing digital payment token services.
A trusted name to institutional partners and High-Net-Worth-Individuals, the mobile app will serve a wider audience in the local market as it allows users to purchase crypto assets in SGD as well as performing fast deposit and withdrawal on the app. “The consumers in Singapore are very sophisticated and the BitEx app is designed to meet their needs. We are consistently working towards providing better user experience and optimising the app for fuss-free navigation within one Fiat-to-Crypto trading platform” said Ken Wong, BitEx Founder and CEO.
In compliance with Singapore’s MAS regulatory guidelines, BitEx has established a monitoring system and policies to combat any unusual or fraudulent activities on its trading platform. With stringent on-boarding protocols in place, coupled with its robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) policies, BitEx has successfully established confidence in institutional partners.
The homegrown crypto assets exchange is working closely with other regulated entities to construct an ecosystem for the Fiat-to-Crypto platform to scale vertically, such as Xfers, the e-money issuance service provider. There are upcoming plans to develop electronic transactions with crypto-related payment modes.
Apart from the stringent on-boarding assessment, Singapore Personal Access (SingPass) log-in verification is incorporated into the log-in process to ensure secure and reliable service delivery. “We are indeed honoured to have very supportive partners and this is not surprising because Singapore is one of the Blockchain Hotspots in the world,” Ken added.
BitEx is expanding its operations in Singapore and unfolding more milestones in Q4 2021. It will also open up career opportunities in various verticals including sales, compliance, and analyst roles to support the growth of the business.
BitEx app is now available for download at the Google Play Store and Apple App Store.
About BitDATA Exchange (BitEx)
Your Trusted Portal for The Crypto-Asset World.
Proudly founded in Singapore, BitDATA Exchange (BitEx) is built to provide an institutional-grade experience for our clients to trade crypto assets, including Bitcoin, Ethereum & Litecoin. BitEx’s purpose is to be a portal that brings together the world of crypto assets and finance for investors, traders, and crypto-enthusiasts. The BitEx trading platform is backed by cutting-edge technology to facilitate efficient high trading volume. We pay special attention to our clients by providing a user-centric portal with state-of-the-art security and a streamlined user experience. We are granted an exemption from holding a license under the Payment Services Act (“PS Act”) for providing digital payment token service by The Monetary Authority of Singapore. (MAS). BitEx is also a member of the Singapore Fintech Association (SFA), the Association of Cryptocurrency Enterprises and Start-ups Singapore (ACCESS), and the Singapore Chinese Chamber of Commerce & Industry (SCCCI). For more information, visit www.bitex.sg.
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