Fly Wing Technologies Pte Ltd (the "Company"), when evaluating a Digital Payment Token ("DPT" or "token") for admission, will take into account the following non-exhaustive list of considerations:
1. Background information about the DPT's management or development team, and any prominent members associated.
2. The regulatory standing of the DPT in Singapore, and any implications this might have on the Company's regulatory responsibilities.
3. Various attributes of the DPT, such as supply, demand, maturity, and liquidity.
4. Technical aspects related to the DPT.
5. The DPT's developmental progress.
6. Market-related and governance risks tied to the DPT.
7. Legal risks linked to both the DPT and, if applicable, its issuer.
8. Assessment of whether the DPT's utility, innovative features, control mechanisms, or novel applications seem fraudulent or unlawful, or if its ongoing viability is dependent on continuous new investments.
9. The enforceability of rights external to the DPT (e.g., rights to underlying assets) and the potential repercussions of the asset's trading activities on foundational markets.
10. Risks of money laundering and potential funding of terrorist activities connected to the DPT.
Potential DPTs identified will undergo a due diligence process. An assessment will be conducted during this process, taking into account the token admission criteria. DPTs must fulfil the token admission criteria before it can be approved by the Company.
The Company will continuously review each DPT admitted and consider whether each DPT continues to meet the token admission criteria. If an admitted token fails to meet the token admission criteria, actions such as suspension or de-listing might be taken by the Company.
In the event that a Digital Payment Token (DPT) becomes suspended or delisted, affected customers will be notified promptly to take appropriate action. For such tokens, customers will be restricted from placing new orders, while existing orders placed prior to the suspension date will continue to be delivered. If the suspension is temporary, the Company will review the situation and may reinstate trading.
