5 upvotes, 1 direct replies (showing 1)
View submission: Chocolate Finance has paused all instant withdrawals due to high demand
I have to refine what I meant by custodial account. CF is not a custodial provider nor is it a custodial entity.
You can be right that CF may function like Endowus or other retail dealing entities, but it depends on how they create the custodial account under whose name.
For Endowus, they publicly mention if you invest with them, the custody account is created in UOB Kay Hian under your name. CF may have done the same, but without them publicly announcing it, we will have no idea.
I apologize if my understanding is wrong, if any insider can enlighten, it will be great.
Comment by DuePomegranate at 10/03/2025 at 08:02 UTC
5 upvotes, 0 direct replies
They claim to be custodized.
What happens if Chocolate Finance gets acquired, goes public or closes?
Nothing happens to your money! It's safe and segregated. We understand that the security of your funds is of utmost importance. As a regulated fund manager, and to ensure that your money is safeguarded, we are required to keep it entirely separate from our own finances, and segregated. Whether your funds are in the form of cash or securities, we use the services of al licensed custodian banks to hold and manage them. This means that if anything happens to Chocolate Finance, your money remains separately custodised (ringfenced) and you can still withdraw it anytime.