Fairdesk, a Singapore-based crypto trade launched in 2021, will completely shut on Nov. 30.
The choice comes amid shifting market circumstances and regulatory adjustments, in accordance to an organization launch.
Fairdesk constructed a repute for providing futures buying and selling, spot buying and selling, and different crypto providers to a world consumer base. Nevertheless, the corporate’s management has opted to wind down operations, citing challenges within the present atmosphere.
Efficient Oct. 17, all buying and selling actions on Fairdesk will stop, with solely withdrawals allowed till the ultimate closure date. Fairdesk inspired its customers to withdraw their funds earlier than the Nov. 30 deadline.
What was Fairdesk?
Fairdesk was a derivatives buying and selling platform based mostly in Singapore, permitting customers to go lengthy and brief on digital belongings. It supplied leverage as much as 125x, enabling merchants to maximise potential good points with minimal capital.
The platform was recognized for its excessive efficiency, reliability, and low transaction charges, positioning itself as a trusted trade for day merchants.
Fairdesk additionally featured sturdy safety measures, maintaining consumer funds in chilly wallets and making certain each transaction was manually inspected and signed offline.
