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The platform is owned and operated Dealworks Pte Ltd, a company registered as a deposits stored value facility, which exempts it from requiring approval from Monetary Authority of Singapore (MAS).
At the time of writing, FYB-SG is one of the four exchanges that offers BTC/SGD pair in Singapore. The convenience to purchase bitcoin directly with SGD makes it a very attractive option for local cryptocurrency investors, especially beginners. According to the latest data, FYB-SG has a considerable 30-day volume of 1,514.9 bitcoins, which is no easy feat for a local exchange alongside its more popular competitors, such as Coinbase, Coinhako, Gemini, Coinbase Pro and Quoinex.
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