The below statements are designed to help you understand our business structure, licensing and risks associated with our business, products and services. It’s important to note that each entity ONLY provides products and services according to their authorized scope of license/qualification




Important notice:  Data and information are strictly provided for informational purposes only.


Risk Warning: Digital payment tokens and assets (“DPT”) are subject to many risks, including price volatility. Transacting in DPT could result in significant losses and may not be suitable for some consumers. The Monetary Authority of Singapore (“MAS”) requires us to provide this risk warning to you as a customer.


In Singapore, Merkle Markets and B2 are the trading names of BSquared Technology Pte Ltd (“Merkle Singapore”), a Singaporean registered entity and a wholly-owned business of Merkle International Pte Ltd. Merkle Singapore carries out regulated activities as an entity that The Monetary Authority has notified of Singapore (“MAS”) pursuant to the Payment Services Act 2019 (the “PS Act”) that it is exempt from holding a license under the PS Act for a specified period of time.


Additional details, including Merkle Singapore’s exemption’s status, are available at


The list of entities no longer exempt from holding a licence under the PS Act can be found here:


Before you pay any Merkle Singapore any money or DPT, you should be aware of the following: 1. Merkle Singapore is exempted by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to Merkle Singapore if Merkle Singapore’s business fails. 2. You should not transact in the DPT if you are not familiar with this DPT. Transacting in DPTs may not be suitable for you if you are not familiar with the technology that DPT services and technologies. 3. You should be aware that the value of DPTs may fluctuate greatly and that the past performance of a DPT is not a guide to future performance, nor is it a reliable indicator of future results or performance. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.



Hong Kong


In Hong Kong, Merkle Trust is the trading name of Cibosaves Limited (“Merkle Trust”) a public company licensed as a trust or corporate service provider (“TCSP”). The TCSP license is a special type of license issued by the Companies Registry (“CR”) exclusively for those qualified corporate bodies or individuals after fulfilling the prescribed standard of practice and assessment.


Additional details, including Merkle Trust’s status as a TCSP, are available at


In Hong Kong, Merkle Prime is the trading name of GC Prime Limited, a Hong Kong-registered entity (“Merkle Prime”.) Merkle Prime is a technology-enabled liquidity provider and principal trading firm carrying our unregulated business activities. As a principal trader we deal for our own risk only in all transactions. As such all business activities of Merkle Prime are conducted for the company’s own account, or for accounts belonging to and maintained wholly for the benefit of its related corporations, and with or through certain counterparties in which Merkle Prime has approved and accepted.