Asset keeping and risk management at Bitazza
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Modified on: Mon, 28 Aug, 2023 at 11:46 AM
Risk and asset keeping disclosure
1. Asset keeping risk
Bitazza is not a financial institution according to the Deposit Protection Agency Act, the deposits of fiat and digital assets with Bitazza are not protected by the Act. Therefore, in the event of any losses or damages to Bitazza, the user may not receive the full amount of assets returned all at once.
2. Evaluation of capability
Users can always check the financial status of Bitazza from the financial statements and performance published on our website. When the Users agree to use the service, further details such as service quality and complaints handling should also be considered.
3. User Risk Management
To manage risks associated with the digital assets keeping, the Users may deposit the amount of digital assets that is sufficient for the purpose of making transactions. On the other hand, the Users may keep the remaining digital assets in their private wallets unless it is not used in any transactions. Additionally, in doing so, users should understand how to use the wallet and how to safeguard their private keys.
4. Digital assets keeping with third party service providers
Bitazza maintains digital assets with third-party custodian as follows:
List of third-party custodian
Service Provider name | Registered country or state | Supervision of regulators in the country of incorporation | Supervision of regulators in the country of incorporation |
Gabriel NS Limited | Hong Kong | Trust and Company Service Provider License (TCSP License No. TC007799) from Registry for Trust and Company Service Providers | |
5. List of sourced exchanges
In providing services to the Users, Bitazza is connected to the digital asset exchange as follows:
List of sourced exchanges
Service Provider name
| Registered country or state
| Supervision of regulators in the country of incorporation | Supervision of regulators in the country of incorporation |
1.Binance | Australia | a Digital Currency Exchange (DCE) regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC) (registration number 100576141-001) |
|
2.Kraken | Australia | a Digital Currency Exchange regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC) |
|
3.Bitstamp | Luxembourg | A Virtual Asset Service Provider and regulated by the Luxembourg Financial Regulator (CSSF) |
|
4.B2C2 | The Cayman Islands | Virtual Asset Service Provider Registration regulated by Cayman Islands Monetary Authority (CIMA) |
|
5.Crypto.com | Singapore | In-principle approval from the Monetary Authority of Singapore (MAS) for its Major Payment Institution License |
|
6.OKX | Dubai | Virtual Asset Service Providers (VASP) License regulated by the Virtual Assets Regulatory Authority (VARA) |
|
7.QCP | Singapore | An exempt payment services provider pending licensing under the Payment Services Act (2019) from the Monetary Authority of Singapore (MAS) |
|
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