Singapore, 12 March 2025… The Monetary Authority of Singapore (MAS) notes that Chocolate Finance, an online robo advisory service operated by Chocfin Pte Ltd (Chocfin), and Allfunds, an independent fund custodian, have issued a joint press statement on the security of Chocfin’s fund holdings and orderly processing of withdrawals.  

2. Digital advisors are required to segregate customer assets from their own. In particular, customers’ assets and monies must be held in independent custody by custodians licensed and regulated by MAS. Customer monies must remain intact and cannot be used to meet the liabilities of the digital advisor at all times. MAS notes the confirmation provided by both Chocolate Finance and Allfunds that these requirements have been fully met. MAS continues to engage Chocolate Finance to ensure that all customer withdrawals will be met in an orderly fashion.

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