Disclosure Statement

Coinut Pte. Ltd. (“Coinut”) is currently operating under exemption and is exempted, pursuant to the Payment Services (Exemption for Specified Period) Regulations 2019 (“Exemption Regulations”), from holding a license under the Payment Services Act 2019 (“PS Act”).  Application to the Monetary Authority of Singapore (“MAS”) to obtain a Major Payment Institution (“MPI”) license under the PS Act is in progress and in respect to all the following Payment Services:

1. Account issuance service;
2. E-money issuance service; 
3. Digital payment token service;

Please note that you may not be able to recover all the money you paid to Coinut Pte Ltd if Coinut Pte Ltd’s business fails.

 

NOTICE TO NON-SINGAPORE RESIDENTS

Coinut Pte. Ltd. is exempted by the Monetary Authority of Singapore from holding a licence to provide e-money issuance services. Please note that you may not be able to recover all the money you paid to Coinut Pte. Ltd. if Coinut Pte. Ltd.’s business fails.

 

RISK WARNING ON DIGITAL PAYMENT TOKEN SERVICES

The Monetary Authority of Singapore (MAS) requires us to provide this risk warning to you as a customer of a digital payment token (DPT) service provider.

Before you:

(a)   pay or transfer your DPT service provider any money or DPT;

(b)   enter into an agreement with a third party to buy or sell DPTs upon inducement by your DPT service provider;

(c)   enter into an agreement with a third party under an arrangement by your DPT service provider for the transmission of DPTs;

(d)  pay a third party any money or DPT under an arrangement by your DPT service provider for the transmission of DPTs; or

(e)   transfer any digital payment token instrument to your DPT service provider, 

you should be aware of the following:-

1.   Your DPT service provider is exempted by MAS from holding a licence to provide DPT services. Please note that you may not be able to recover all the money or DPTs you paid to your DPT service provider, or any other third party referred to above, if your DPT service provider’s or the third party’s business fails.

2.   You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.

3.   You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.

4.   You should be aware that your DPT service provider, as part of its license to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.