Hodlnaut Announces Independent Verification of US$234M of Crypto Assets by Crowe Singapore

First published
May 5, 2021
Last updated
January 25, 2022

Singapore, April 26, 2021 — Hodlnaut, Singapore’s eminent cryptocurrency interest-earning platform, recently declared the completion of an independent verification exercise done by Crowe Singapore (a global audit firm) that verified the cryptographic AUM of Hodlnaut to be $234,230,478.90 as of April 12, 2021. The recent financial attestation is the second third-party verification of Hodlnaut’s cryptographic assets after the first one, which was performed on January 5, 2021.

“With our latest independent verification exercise, we’re aiming to provide transparency of our assets under management to our users regularly. It’s all about building trust in this industry, given the number of illicit companies and activities occurring,” said Juntao Zhu, CEO, and Co-founder of Hodlnaut.
He further added how important it is to be transparent regarding the legal requirements for getting the Major Payment Institution License under the Payment Services Act (PSA). “Engaging an external auditor at a later stage is a crucial step and a mandate by PSA under the Monetary Authority of Singapore.”
“Through the application of deep technical expertise, Crowe Singapore is helping clients with crypto assets manage the complexities and challenges in upholding corporate transparency standards. In this regard, we are pleased to work with Hodlnaut once again, to perform yet another successful independent verification exercise to establish ownership over their cryptographic assets,” said Alvin Neo, Director, Crowe Consulting (Singapore) Pte Ltd.

Hodlnaut has recently introduced its Token Swap feature, which enables customers to swap assets within the Hodlnaut platform to earn interest in the crypto of their choice. Furthermore, Hodlnaut has also integrated Fireblocks, which will help customers access their digital assets securely 24/7 in a hassle-free way. The integration will also make the withdrawals automatic and faster.

Moreover, Hodlnaut has partnered with Jumio, a leading provider of end-to-end AI-powered identity verification and eKYC solutions, to improve its Know-Your-Customer (KYC) and onboarding process. These partnerships are in alignment with Hodlnaut’s continued efforts towards providing exceptional service to its users.

About Crowe

Crowe Horwath First Trust, also known as Crowe Singapore, is a member of Crowe Global, which is the eighth largest accounting network in the world. Crowe Global has 200 independent accounting and advisory firms in more than 130 countries. Crowe Singapore is an award-winning firm with core strengths in tax, audit, and accounting to provide a host of professional services, serving the needs of multinational corporations and public-listed entities as well as financial institutions.

The niche services of Crowe Singapore like Digital Advisory, Private Wealth Services, and Fund Administration unite its strengths across different practices to provide integrated solutions which meet the dynamic requirements of their client. Crowe Singapore has strong expertise in helping fintech, blockchain companies, and token issuers to improve their enterprise value in the area of digital advisory. It is also one of the two homegrown fund administration service providers to support Singapore’s development as a global asset management hub.

For more information, please visit www.crowe.com/sg.

About Hodlnaut

Hodlnaut is a platform that provides financial services for individual investors who can earn interest in their cryptocurrencies by lending them to institutions. Founded by Bitcoin maximalists Juntao Zhu and Simon Lee in April 2019, the company aims to help hodlers get the most out of their crypto assets. Hodlnaut offers competitive interest rates to individual investors who have a Hodlnaut crypto interest account by lending it to rigorously vetted institutional borrowers in the form of crypto loans.

Disclaimer: This article is for informational purposes only, and is not an offer nor a solicitation to invest in DPT, securities, funds, partnership interests or other investments or funding or purchasing loans. It is the user's sole responsibility to conduct due diligence and research extensively into each DPT and platform, and understand that the volatility and unpredictability of the price of DPT may result in significant loss over a short period of time. No information on Hodlnaut should be considered to be business, legal, financial or tax advice regarding the use of Hodlnaut. Users should consult their own legal, financial, tax or other professional advisors before using Hodlnaut.