ChainUP launches one-stop solution for Singapore-compliant crypto exchanges
In collaboration with Bplus and BitSG Labs, blockchain technology provider ChainUP has launched the first legally compliant crypto exchange solution in Singapore.
This one-stop solution meets MAS (Monetary Authority of Singapore) requirements, MAS being Singapore’s de facto central bank and regulator of the financial sector.
Since establishing in 2017, ChainUP has developed 8 mature product lines -
whitelabel crypto exchange solution, situational awareness system, wallet system, blockchain cloud media, mining pool, public and alliance chains, liquidity and broker. Three independent subsidiary brands have also been created - EXUP, a financial derivatives platform, BitWind, an exchange liquidity provider and HiCoin, a crypto wallet solution.
The new compliance technology solution created by ChainUP meets MAS standards by customising development systems for exchanges that target compliance requirements.
Presently, ChainUp has completed various upgrades in the following areas - fund storage and withdrawal, AML (Anti-Money Laundering), KYC (Know Your Customer), local government audit reports/API; it has also reconstructed its underlying storage solution for wallets. It is important to note that ChainUP has provided blockchain technology services to over five hundred customers globally, three hundred of which are exchanges.