Chocolate Finance to process withdrawals in 'orderly manner'

Financial services firm Chocolate Finance will process its customers' withdrawals in an "orderly manner", following a spike in withdrawal requests on March 10.

- Timothy Goh

In a statement on March 12, the firm said customers who have submitted withdrawal requests can expect to receive their funds within three to six business days from the time they made the request, in line with normal investment fund redemption cycles.

Chocolate Finance chief executive and founder Walter de Oude said the platform is committed to providing a "secure and transparent" experience for its customers.

"While we have seen a spike in withdrawals, all are being processed in an orderly manner," he said.

"We assure customers that their funds are secure, and withdrawals are proceeding as scheduled."

The firm also noted that it continues to work closely with Allfunds — its licensed custodian — to ensure the "highest level of security, compliance and operational efficiency".