The Business Times
business-time-50
HOCK LOCK SIEW
·
SUBSCRIBERS

Bitterness from Chocolate Finance fallout could cloud its future if trust melts away

Negative sentiment online indicates that some investors are eager to withdraw their money from the platform; where would that leave its AUM then?

Summarise
google-preferred-sourceAdd BT as a preferred source
Benjamin Cher

Benjamin Cher

Published Thu, Mar 13, 2025 · 05:00 AM
    • Chocolate Finance CEO Walter de Oude said in an interview in February that the platform's cash assets were approaching S$1 billion.
    • Chocolate Finance CEO Walter de Oude said in an interview in February that the platform's cash assets were approaching S$1 billion. PHOTO: CHOCOLATE FINANCE

    [SINGAPORE] As the dust settles after Chocolate Finance suspended instant withdrawals and debit card transactions earlier this week, the fintech platform will have to count the cost.

    What is immediately apparent is the loss of trust that customers and consumers may have in Chocolate Finance, judging by the criticism in some online posts. 

    The company’s founder and chief executive, Walter de Oude, has come out to assure investors that their funds are secure and denies any “liquidity issues”.

    Hock Lock Siew

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    The message was sent with addresses under the carbon copy feature instead of blind carbon copy, meaning that all recipients could see all the other e-mail addresses in the chain. 

    LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More