Fairdesk Technology Pte. Ltd.

Fairdesk Technology Pte. Ltd., established in 2021 and headquartered in Singapore, operated as a centralized cryptocurrency exchange offering services such as spot trading, futures trading with leverage up to 125x, and copy trading. The platform emphasized security by storing funds in multi-level cold wallets and implementing manual offline transaction approvals. Fairdesk's proprietary matching engine was designed to handle over 450,000 orders per second, ensuring high performance and reliability. However, in October 2024, the company announced its decision to cease operations, citing evolving market conditions and regulatory challenges. Trading activities were halted on October 17, 2024, with the platform remaining accessible solely for withdrawals until its permanent closure on November 30, 2024.