Cabital, a trusted digital financial institution, today announced that it has appointed leading international audit, tax and advisory firm Mazars to conduct an audit in accordance with the Singapore Standards of Auditing.

Raymond Hsu, Cabital’s Co-Founder and Chief Executive Officer, said:

“We are pleased to announce that we have appointed an external auditor for Cabital. The firm we have selected is incredibly well qualified to provide us with an unbiased and external audit given their ability to understand our business model, culture and industry and their capabilities to consider the needs of our stakeholders to provide a tailored auditing strategy specific for our business. Appointing a leading external auditor will allow us to start the auditing process that is crucial in our mission in becoming a global leader in risk compliance, corporate governance and transparency in the cryptocurrency industry.” 

Lu Ying, Cabital’s Finance Director, said:

“As Cabital continues to build a compliant and trusted digital financial institution where our customers can easily buy, sell and earn cryptocurrency, appointing a reputable external auditor allows us to strengthen our customers and investors’ confidence in us. Their extensive industry experience in auditing will enable us to significantly improve our operations, internal controls and corporate governance. We are looking forward to the upcoming audit as we continue to build out a compliance programme that is modeled after leading global financial service providers.

Cabital integrated with Plaid to make it easy for users to securely and seamlessly fund their Cabital accounts and the firm has partnered with BCB Group (BCB), one of Europe’s leading providers of business accounts and trading services for the digital asset economy, enabling it to incorporate GBP to its growing list of payment methods.

Cabital is in the process of applying for approval from the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019 to provide digital payment token services as a Major Payment Institution.