A Tokenize Xchange user said he and his mother were unable to withdraw their money after the cryptocurrency exchange announced that it will be ceasing its Singapore operations.

Stomper STL shared a screenshot of the email making the announcement he received on July 17.

The email from Tokenize Xchange said there would be a separate email to notify Singapore users on their "relevant period" for asset withdrawal.

The Stomper said: "Currently, I can only view my balance in USD. I'm unable to withdraw to my SGD account. When I queried, they sent the following reply below."

The reply said: "USD fiat withdrawal has already ceased since January 2025."

The Stomper's mother is affected as well.

He said: "My mum has an account in SGD and is also unable to make withdrawals."

His mother has S$9,500 in her account while the Stomper has US$5,000 ($3,900) in his.

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It will also seek regulatory approval from Abu Dhabi Global Market, a financial zone located in Abu Dhabi.

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