Why do you need my bank account information?

We only need your bank account information if you plan to participate in cash denominated transactions on the DigiFT platform and thus plan to fund your account with cash. 

 

Upon receiving your cash, DigiFT will convert them into Utility Tokens (UT) for use on DigiFT. 

 

For compliance purposes, we only allow 1st party cash deposits and withdrawals. Thus, the bank account registered has to be in the name of the DigiFT account holder. 

 

Our preferred bank is DBS Limited Singapore.