How to create USD Accounts safely within Wallex

Q: Does Wallex have any exposure to Silicon Valley Bank or Signature Bank?

A: No. Wallex does not have any exposure to Silicon Valley Bank or Signature Bank.

Q: Where does Wallex hold my funds?

A: All Wallex funds are held in customer segregated accounts with DBS, which is separate from our operational accounts. This means that Wallex will not channel the funds in these segregated towards our operations or use it to pay back our creditors.

Q: What about my funds which are currently in Wallex’s USD account?

A: Your funds are safe and will continue to remain in your virtual USD Wallex account until you wish to withdraw them.

Q: I am a Wallex customer. Can I open a USD account with Wallex now?

A: Yes, Wallex will assist you to open a USD account which can be done in minutes*.

Q: I don’t have any existing relationships with Wallex, can I still open a USD account with Wallex now?

A: Yes. Wallex will help you to expedite the onboarding process and get a USD account set up.

*Not including businesses operating in prohibited industries and countries of both Wallex and our service provider.