Fusang Exchange Ltd

Money Broking Licence (Labuan)

Document IPFS CID:

Licensed to serve as a Money Broker by the Labuan Financial Services Authority (LFSA), under the Labuan Financial Services & Securities Act (LFSSA) [s86 LFSSA 2010].

Fusang Exchange Ltd's Virtual Asset Market is hosted under this Money Broking licence

Licensed as a digital money broker, bringing together counterparties on mutually acceptable terms for financial products in money or foreign exchange markets in order to facilitate trading and settlement of digital monetary instruments, including:

  1. Cryptocurrencies
  2. Utility tokens
  3. Other non-security instruments and tokens
  4. FX & fiat currencies

Fusang Exchange Ltd's Main Board & Private Market is hosted under its Securities Exchange licence

For all Labuan financial licensees undertaking digital financial services (DFS):

  • Client monies must be maintained in accounts separate from its own bank account and marked in its books as relating to each client’s account.
  • Client monies cannot be mixed with the firm’s general assets at any time;
  • Client monies must be readily identified at any time;
  • Client monies accounts need to be reconciled with internal records and client records at least monthly;
  • Withdrawal instructions is expected to be completed within 3 working days.