The Monetary Authority of Singapore (MAS) today issued a brief statement regarding the withdrawal situation at Chocolate Finance, an online robo advisory service operated by Chocfin Pte Ltd.

MAS says it continues to engage Chocolate Finance to ensure that all customer withdrawals will be met in an orderly fashion.

Digital advisors are required to segregate customer assets from their own. In particular, customers’ assets and money must be held in independent custody by custodians licensed and regulated by MAS. Customer money must remain intact and cannot be used to meet the liabilities of the digital advisor at all times.

MAS noted the confirmation provided by both Chocolate Finance and Allfunds that these requirements have been fully met.

Chocolate Finance and Allfunds, a fund distribution platform, today claimed that Chocolate’s customer Investment Funds holdings are secure and reaffirmed the continued orderly processing of withdrawals in line with standard industry practices.

The firms said that customers who have submitted withdrawal requests can expect to receive their monies within 3 to 6 business days from when they requested withdrawal.

On Monday, March 10, 2025, during a period of what Chocolate Finance called “unusually high withdrawal requests”, Chocolate Finance paused its instant withdrawal and card transaction services.