Yes, your money is safe. OPAL follows strict rules set by Singapore’s Payment Services Act 2019 and holds a Major Payment Institution (MPI) License (No. PS20200221). We have user protection measures implemented to safeguard and protect 100% of our customers' funds.
Your funds are held in a custodian bank fully licensed in Singapore. To keep client funds always safe, client funds are strictly segregated from OPAL’s own corporate accounts and funds at all times. Your money is protected in accordance with the applicable acts and regulations within Singapore.
In accordance with the Singapore legislation, any funds that are received on your behalf are being matched by OPAL in the equivalent amount in our Singapore Trust Client Safeguarding Account.
Hence, your money is kept strictly segregated and held securely in a Singapore-located Tier-1 partner bank.