41 upvotes, 1 direct replies (showing 1)
View submission: Chocolate Finance has paused all instant withdrawals due to high demand
OK la not really that bad la imo.
Since unlike crypto, local digital wealth platforms should be much better regulated.
Chocolate Finance is not covered by the Singapore Deposit Insurance Corporation (SDIC) because we are not a bank. Banks have SDIC protection because if the bank fails, your money is at risk. Chocolate operates differently. Your funds with Chocolate Finance are held separately by trusted custodians, HSBC and State Street, under the management of our fund managers, and are ringfenced in the event that anything happens to Chocolate.
So both running away w your money and creditors accessing your funds to cover debt owe should be very difficult if not impossible.
How long before u get back your money tho is the million dollar question.
(u shouldn't be locking up funds that is required to be liquid in the first place)
Comment by deangsana at 10/03/2025 at 02:03 UTC
5 upvotes, 0 direct replies
not your cash not your money or something