How secured and regulated is Tokenize Exchange?
At Tokenize Xchange, security is our topmost priority. Integral layers of security enhancement such as Two-factor authentication (2FA) and compulsory address whitelisting have been strictly implemented to reduce the risk of our platform being hacked or misused.
Tokenize Xchange also only partners reputable technology and compliance service providers to uphold and protect the security integrity of our platform. We maintain a multi-signature cold wallet under Bitgo custodial solutions for storage of our user's digital assets. While Tokenize Xchange controls one of the keys, the other is held by the multi-signature custodian leader Bitgo making the wallet much more secure. Tokenize Xchange also is backed by Digital Asset insurance coverage by Bitgo, safeguarding users from any security risks.
Additionally, Tokenize Xchange conducts regular self-assessments against Monetary Authority of Singapore (MAS) regulations and guidelines, such as Notice on Cyber Hygiene and Technology Risk Management Guidelines. We pride ourselves in ensuring high security systems and actively engage independent third parties to perform penetration testing on our online and mobile applications.
We also perform identity verification on all users before they can start trading on Tokenize Exchange. This is to comply with existing rules on Know-Your-Customer (KYC), Anti-Money Laundering and Countering Terrorism Financing (AML/CTF) set out by the Monetary Authority of Singapore (MAS).
Will there be any risk that Tokenize’s bank account gets clamped down? And if so, what will happen to our money?
You can have our assurance that your money with us is and will not be used for unlawful purposes. At the moment, only Singapore residents have access to fiat trading. We have a contingency plan in place to ensure premium members will be able to safely withdraw their deposits in the event of an unpreventable clampdown of our bank account.