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 the 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 LUNO as planned according to its regulatory address that 5 Shenton Way, #10-01 UIC Building, Singapore (068808).

The investigators came to 5 Shenton Way in Singapore for a visit to the exchanges office on November 10, 2023, and located UIC Building in the heart of the Marina Bay Financial Center. The development is home to a 23-storey office tower and a 54-storey residential tower, V on Shenton. Additionally, the building featuring a marine view is easily accessible via public transports in close proximity of the new Shenton Way MRT Station.

Upon arrival at the modern commercial building with high security for further investigation, the survey personnel spotted a reception area and a directory in the lobby. According to the directory, the 10th and 11th floor were occupied by JustCo, a co-working space office, and there was no any information regarding LUNO.

Upon security check, the investigation team accessed the 10th floor via the elevator, and saw the office of JustCo. But, there was no company name nor logo of LUNO and room 10-01, which signifies that LUNO doesnt exist in the shared office.

Through the on-site investigation, it is confirmed that LUNO doesnt have a presence at the location.

Conclusion

The survey team went to Singapore to visit cryptocurrency exchange LUNO, but didn‘t find the company at its regulatory address. This indicates 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.

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