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OPINIONS

My Withdrawal Plan from Tokenize Exchange

An update on my withdrawal plan from Tokenize Exchange.

Tan Choong Hwee

8d ago

Investor/Trader at Home

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2025/07/25/my-withdrawal-plan-from-tokenize-exchange/

Disclaimer: This post is just for educational sharing purposes. Please do your own due diligence on any products mentioned in this post.

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On 18 July 2025, I reported in a blog post about Tokenize Exchange is Ceasing its Operations in Singapore. I was informed about the ceasing and payment window via emails they sent me the previous night (17 July 2025). I checked and such information wasn't published on their website.

On 20 July 2025, there were news reports from Straits Times and The Edge on this matters:
https://www.straitstimes.com/business/companies-markets/crypto-exchange-tokenize-xchange-to-shut-down-singapore-operations
https://www.theedgesingapore.com/news/cryptocurrency/tokenize-xchange-cease-operations-singapore-after-failing-obtain-mpi-license

These news reports mentioned Tokenize Exchange is ceasing its operations in Singapore because the Monetary Authority of Singapore (MAS) decided not to grant the company a Major Payment Institution (MPI) licence. However, there was no reason given to why MAS decided not to grant MPI licence.

Tokenize Exchange emails gave their support email address [email protected], and I had communicated via this support line. I learnt a few things from the email exchange:

  • Trading of crypto assets is no longer available.
  • No force sell of my crypto assets.
  • Withdrawal window is scheduled based on my portfolio value as of 18 July 2025 00:00am.
  • During my scheduled withdrawal window, I can withdraw my cash balance to my bank account through the normal process, there is a $2 withdrawal fee incurred.
  • For all my crypto coins, I have to withdraw them to another crypto platform or self-hosted wallet.
  • For other crypto platforms, they mentioned I may consider Coinbase SG or OKX SG.

I have also communicated with a few friends, some have more experience with crypto, and some are also Tokenize Exchange customers facing the same issues.

With Tokenize Exchange support emails and friends' sharings, I have formulated my withdrawal plan:

  1. Onboard a crypto platform or wallet. Tokenize Exchange support mentioned Coinbase SG or OKX SG, and some friends suggested Trust Wallet.
  2. During my scheduled withdrawal window, I will withdraw my cash balance to my designated bank account via the usual cash withdrawal process.
  3. I will withdraw each of my crypto assets to the platform I select/onboard in step 1, probably starting with a small amount to test out the process and learn about how long it takes and the fees involved in transferring crypto assets.
  4. Once the transfer process is tested, I will proceed to transfer all my crypto assets to the designated platform.
  5. After the transfer of my crypto assets, I will decide whether to continue hodling the coins or exit from my crypto exploration journey at a later time.

As readers who follow my Crypto Investment Updates would know, I have already fully withdrawn my capital in December 2024 (Crypto Investment Update – December 2024). My crypto assets in Tokenize Exchange are pure profits. It allows me to remain calm amidst this Tokenize Exchange saga.

I believe some of Tokenize Exchange users might be under a lot of stress due to the size of their portfolio. Those with more than $100,000 portfolio value are scheduled to withdraw in September 2025. I can imagine and empathize with your anxieties, watching your crypto portfolio value going up and down while waiting for your turns to withdraw. But the last thing you need is panic.

For me, this Tokenize Exchange calamity is a precious learning opportunity. My withdrawal window is in August 2025, so I have some time to learn and execute the withdrawal plan I mapped out above. I will publish my findings and experiences running through the plan in this blog. Hopefully these blog posts can help some of you!

Stay Calm! Stay Brave! Stay Rational!

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ABOUT ME

Tan Choong Hwee

8d ago

Investor/Trader at Home

Blogger, Investor

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