(applicable to digital payment token services)
The Monetary Authority of Singapore (MAS) requires SBI Digital Markets Pte. Ltd. to provide this risk warning to you as a client for receiving digital payment token (“DPT”) services from us.
Before you:
- pay or transfer us any money or DPT;
- enter into an agreement with a third party to buy or sell DPTs upon inducement by us;
- enter into an agreement with a third party under an arrangement by us for the transmission of DPTs;
- pay a third party any money or DPT under an arrangement by us for the transmission of DPTs; or
- transfer any DPT instrument to us,
you should be aware of the following:
- SBI Digital Markets Pte. Ltd. is temporarily exempted by the 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 SBI Digital Markets Pte. Ltd., or any other third party referred to above, if SBI Digital Markets Pte. Ltd. or the third party’s business fails;
- you should not transact in the DPT if you are not familiar with DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by SBI Digital Markets Pte. Ltd;
- 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; and
- you should be aware that SBI Digital Markets Pte. Ltd., as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.