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Risk warning on digital payment token services

Sparrow Tech Private Limited is currently applying for the Payment Services License in Singapore.
We have been granted an exemption (listed here) to continue operations, pending the approval of our license application.

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 pay your DPT service provider any money or DPT, 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 if your DPT service provider’s business fails.

  2. You should not transact in the DPT if you are not familiar with this DPT. Transacting in DPTs may not be suitable for you if you are not familiar with the technology that DPT services are provided.

  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.

If you have any questions regarding the above, please contact us at [email protected].

We look forward to continue serving your trading needs.

Your Friendly Sparrow