Coinut: institutional crypto execution, payments and regional access limits

Coinut’s present positioning centres on institutions and corporate treasury. Its homepage presents Payment, OTC and Ramp alongside wallet and Swap services. A product page remaining online does not establish that every regional entity accepts every customer class or offers the same asset list.[1]

For Singapore retail individuals, the notice dated 1 July 2026 stopped new accounts and restricted existing users to exit transactions during July–August. Ordinary trading is suspended after 31 August unless the customer completed qualifying accredited-investor conversion. Remaining holders may request restricted liquidation or withdrawal assistance. Corporate, institutional and existing accredited customers were excluded from this retail transition.[5]

The Swap instructions require confirmation within ten seconds of obtaining a quote. Review both the amount paid and amount received before that window expires; request a fresh quote if it lapses. A success or failure notification and a summary email follow the attempt. A requested quote alone is not evidence of a completed conversion.[12]

The November 2024 mobile launch describes a Wallet-based Swap flow, initially for USDT/XSGD. That dated feature description establishes mobile functionality, not current retail admission or identical asset coverage on every device. No native desktop-terminal parity, mobile background-order guarantee or offline trading mode was established.[40]

Coinut’s official API documentation covers public market data and private balances, order entry, cancellation and trading history. REST uses an API key, HMAC-SHA256 authentication and a nonce; WebSocket access also exists. This establishes programming interfaces, not universal institutional execution entitlement. Published operations do not establish granular key restrictions, a withdrawal permission or what happens to outstanding orders when access is revoked.[26]

The linked tariff was updated on 16 October 2024. Pure crypto pairs show 0% maker and 0.1% taker at every tier; VIP changes take 24 hours. A US$10,000 equivalent fill therefore incurs US$10 equivalent at 0.1%, or US$50 at the Normal 0.50% fiat/XSGD taker rate. These single-fill examples exclude conversion spreads and withdrawals. WLTC minting and redemption each show 0.3%.[8]

Swap separately advertises no fee. That wording does not demonstrate a zero spread against an external market or remove funding and withdrawal charges. Compare the executable quantities and rate for the requested size; an order-book fee table is not a substitute for the Swap confirmation screen.[10]

For OTC, the Singapore agreement makes execution binding on explicit confirmation such as “done” or “executed”. Indicative pricing is not a firm offer. Quotes may contain a proprietary spread or markup; executed trades cannot normally be amended unilaterally. The agreement does not guarantee liquidity despite stronger product-page marketing.[4]

Payment fees vary with sending, conversion and withdrawal activity and are displayed before confirmation. No universal public percentage was established. The relevant comparison is the source amount debited, any separate charge, the conversion rate and the beneficiary’s expected receipt. An apparently low platform charge can coexist with an FX margin or downstream banking cost.[37]

Coinut’s 5 October 2026 OTC walkthrough calls for agreement on price or spread, quote validity, fees, partial-fill treatment and settlement sequence before funds move. Expired quotes require re-quotation. Obtain transaction-specific funding instructions rather than reusing an old bank reference or wallet address.[19]

The 8 July 2026 schedule states no minimum crypto deposit and identifies the starred withdrawal charges as floors that can rise with network congestion. The live withdrawal page supplies the current fee. A published minimum amount is not the same as the net amount received, and an asset ticker does not establish compatibility across all networks.[9]

Offramp setup starts from the USDT wallet and the bank-account management screen. The July 2025 guide requests a bank statement no more than three months old and verification before withdrawal. Payment-provider accounts may need additional desk coordination where the SWIFT beneficiary differs from the user. Successful account addition alone does not guarantee that a later payout clears compliance.[15]

A 5 May 2023 SGD notice instead states a 0.55% FAST withdrawal charge. Its conflict with the later 2 XSGD guide remains unresolved for today’s accounts. Neither rate is presented as a verified universal current tariff; obtain the charge and net bank receipt for the approved route.[32][31]

The corporate-specific XSGD article is older still, dated June 2021. It directs companies through a separate StraitsX Business account because its then-provider could not process corporate SGD bank transfers. That historical workaround does not establish present bank support or fees. Institutional applicants need a currently approved corridor from the desk before sending funds.[33]

Payment documentation names USDT and AUD, USD, EUR, CAD, CNH, SGD, MYR, HKD and JPY. This is a business-payment currency list, not proof that every currency is an exchange cash balance, a direct retail deposit method or available to every regional entity. XSGD is a token balance and should not be described as an ordinary SGD bank deposit.[36]

The April 2024 timing FAQ estimates automatic crypto withdrawals in under an hour. The March 2026 Singapore terms instead allow manual verification taking up to three business days. Treat the newer contractual review period as material; a blockchain confirmation estimate does not resolve platform processing or compliance delays.[34][4]

Singapore terms describe customer crypto held in trust, pooled with other customers but separated from Coinut’s own assets, with individual interests recorded. Third-party custody and overseas wallet equipment are permitted. Contractual segregation is not a recovery guarantee: the agreement expressly warns that insolvency can still cause total loss.[4]

The security FAQ names Fireblocks MPC infrastructure and Coinbase Custody cold storage. These are company disclosures about service providers, not an independently verified reserve audit, a per-customer insurance certificate or proof that every asset is held in the same location. A hosted wallet still requires the platform to authorise the customer’s release of assets.[20]

The August 2024 compensation framework says there is no insurance covering customer-related claims. It describes internal review of transaction errors, unauthorised activity and technical or fraud incidents, with exclusions including user negligence, market losses and third-party failures. Approval is discretionary through that process, with an appeal route; it is not automatic reimbursement of every account loss.[21]

The frozen-account guide describes a freeze link in login or withdrawal emails and support-led recovery after identity checks. Requested information can include the account name, registered contact details and last login, with further documents possible. The published process does not establish a fixed post-reset withdrawal hold or a guaranteed completion time.[23]

WLTC is described as Coinut-issued wrapped Litecoin on Ethereum with 1:1 LTC backing. Using it adds issuer, custody and smart-contract dependencies beyond holding native Litecoin; external DeFi use has its own conditions. The product page excludes U.S. persons from its stated digital-asset brokerage and related services. It does not establish a universally available native Coinut staking account.[39]

The business-account guide requires verification of the representative, company formation and constitutional records, beneficial ownership and directors, source of funds or wealth, and authority to act. It estimates two to seven working days, subject to additional requests. Switching an existing account to business status is described as irreversible; the guide does not promise conversion back to an individual account.[24]

The current OTC onboarding walkthrough adds transaction purpose, destination counterparty, asset, currency, size and settlement timing to the practical assessment. Completed identification does not predetermine acceptance of a particular corridor. Bank cut-offs, sanctions screening and chain conditions affect whether the agreed transaction can settle when intended.[19]

Account deletion is a separate instruction from inactivity or a trading suspension. The March 2024 guide provides an app deletion flow and additional identity checks, including a dated signed request or selfie with ID when required. It warns about remaining balances and retained records. A current inactivity-charge schedule or automatic dormant-account deadline was not established from the reviewed closure material.[22]

Singapore residual balances after the retail deadline remain subject to custody and compliance handling. Support-assisted access is limited to the permitted exit purpose; a visible balance or a functioning login does not restore ordinary retail trading.[5]

For OTC settlement problems, the October walkthrough calls for an agreed escalation contact, execution confirmation, transfer references and reconciliation of amounts received. An email enquiry is not itself an execution instruction. No published universal emergency phone-dealing route, guaranteed outage fill or round-the-clock human-response commitment was established.[19]

Swap instructions provide email transaction summaries, while the API exposes trading history.[12][26]

The history page identifies the Wallet record view, but does not establish full tax-lot accounting, a unified CSV covering OTC and payments, or automatic transfer of cost basis between products. Export availability should be confirmed for the contracted service before relying on it for ongoing reconciliation.[13]

The privacy notice provides access and correction requests and describes a target of ten business days for responding to consent withdrawal. Withdrawing consent can affect the ability to continue services; it does not compel deletion of records required for legal or legitimate business purposes. The separate closure instruction should still be completed where an account is to be ended.[25]

Coinut’s current risk disclosure claims Singapore exemption while an MPI application remains pending.[3]

MAS’s current “no longer exempt” table names COINUT PTE. LTD. for account issuance, e-money issuance and DPT services. Its heading says listed entities are no longer exempt and not permitted to conduct the specified services. That conflicts with the company’s exemption claim. No exact current licence was matched; this does not independently resolve whether a later licence exists or the position of other Coinut entities.[6]

FINTRAC states that MSB registration is not a licence or endorsement. Its current register framework was inspected, but the downloadable data did not yield an exact Coinut record in this review. Consequently, the number above remains an attributed company claim; it does not establish Canadian securities-dealer approval or investor compensation protection.[7]

The November 2022 Canadian terms claim Ontario restricted-dealer registration, while the current risk disclosure describes work towards a crypto-trading-platform licence. That discrepancy was not resolved by a current exact authority record. The older contract claim is therefore not used as affirmative permission for present Canadian trading.[27][3]

The September 2026 New Zealand announcement attributes its FSPR entry to Coinut Canada Ltd., rather than a separate local exchange company. It also says service availability depends on the customer, transaction and relevant permissions. The exact live FSPR record was not independently matched here, and the announcement does not establish that every Coinut product is authorised in New Zealand.[28]

Coinut says it was founded in Singapore in 2013 by Xinxi Wang and Jingli Cai, identified as CEO and CTO. Its company page claims more than 1.6 million users globally. This is a company-reported platform figure, not independently audited active traders, funded accounts or exchange trading volume. Offices are listed in Singapore, Canada, Switzerland and the United States.[2]

The current OTC page targets institutions, family offices and high-net-worth participants. Its market-growth statistics describe wider OTC or stablecoin activity and should not be read as Coinut’s own turnover. No comparable independently verified exchange-volume ranking or current active-trader count was established for this profile.[16]

Operator

Coinut Pte. Ltd. and regional affiliates

Exchange model

Centralised

Service scope

Institutional OTC, business payments, fiat conversion and account-dependent Swap.

Client types

Professional clients; Institutional clients

Pricing publication

Public and quoted pricing

Funding scope

Bank and crypto routes vary by entity, account approval and settlement corridor.

Custody and asset handling

Hosted custody using disclosed third-party infrastructure.

Client eligibility

Singapore retail onboarding ceased; corporate, institutional and verified accredited-investor access is separately assessed.

Support

Support email, help-centre requests and business inquiry form.

Authorisation and registration scope

Regional registration claims have distinct scope; Singapore exemption disclosure conflicts with the current MAS list.

Exchange metadata checked 20 Oct 2026Source 1Source 2Source 3Source 5Source 6Source 19Source 20Source 21Source 29Source 37

No current discretionary AI trader or copy-trading mandate was established from the API and product material inspected. Programmatic order submission is an execution capability; it does not establish permission for a model or another trader to choose investments. Bot disconnection, key revocation and cancellation of already accepted orders are distinct actions, and the documented API does not settle their interaction.[26]

The referral article is dated April 2022 and contains campaign qualification and anti-abuse conditions. It does not establish a current promotion, a freely withdrawable cash reward or unchanged eligibility following the Singapore retail cessation. Legacy reward links should therefore not be included in available cash or treated as an account-opening entitlement.[35]

For business payments, the documented flow separately flags third-party beneficiaries, verifies the recipient and requests an invoice or receipt. This capability belongs to the Payment product. It should not be carried across to ordinary USD Offramp, whose published route is restricted to the customer’s own verified account.[38][14]