Reorganizing of our services

Released on

Dec 23, 2020

Dear community,

Following our information on 1 October 2020 regarding the reorganization of our services, we would like to inform you about another development:

Up to today, certain services offered to clients by TenX Payments Europe AG are executed via other TenX Group companies (cf. para 1.1.29 of our TERMS AND CONDITIONS FOR USE OF TENX SERVICES). This is especially the case for maintaining blockchain-based balances within your TenX Wallet. TenX Payments Europe AG has an internal group agreement with TenX Pte. Ltd. in Singapore to offer crypto custody services via BitGo Inc., Palo Alto, United States of America. Thus, your client relationship regarding your TenX Wallet is currently with TenX Payments Europe AG, although your crypto-funds are deposited with BitGo (the leader in institutional digital asset custody, trading, and finance) on a wallet held by TenX Pte. Ltd., Singapore. Sounds complicated, is complicated. That’s why we change it.
Going forward, your client relationship will be with TenX Pte. Ltd., and your crypto-funds will still be with BitGo in a wallet held by TenX Pte. Ltd, which is allowed to offer crypto custody services. What basically changes is the paperwork. The accessibility to your crypto-funds via the TenX app and the security standards remain the same - your crypto-funds are safe. TenX Pte. Ltd. will offer its wallet services for free - there will be no charges in this regard.

If you disagree with moving the crypto custody part of your client relationship to TenX Pte. Ltd. please initiate the transfer via the TenX-App by yourself or instruct us to transfer your crypto-funds to your private wallet via the customer portal on the TenX website or the TenX App by no later than 30 December 2020, midnight (CET). If you instruct us, we will need to verify your identity before transferring your crypto-funds for security reasons. Kindly note that your client relationship with TenX Payments Europe AG in relation to the crypto custody services will then be terminated.

If we don’t receive such an instruction by 30 December 2020, midnight (CET), please note the crypto custody part of your client relationship will be with TenX Pte. Ltd. from 1 January 2021.

The exact address and contact details of your new wallet service provider is as follows:
TenX Pte. Ltd.
11 Keppel Road, #07-00
ABI Plaza, Singapore 089057
In case of any questions regarding this process, please reach out to our help center