SINGAPORE, Nov. 24, 2021 /PRNewswire/ — Sparrow is excited to announce that it now accepts PayNow transfers for institutional clients. PayNow is a convenient and secure method of transfer, in line with the high-security standards adopted by local banks in Singapore. "We have started to accept instant and fast funds transfer through PayNow’s secure facilities, making trading on Sparrow more convenient and secure. "Kenneth Yeo, CEO of Sparrow. With the increased adoption of cryptocurrencies, Sparrow aims to leverage an integrated, secure, trusted, and regulated platform for its digital asset transactions.
Direct bank transfers to enhance user experience and confidence
By adopting a safe and secure digital payments solution from a major local bank, Sparrow is committed to building a sustainable trading platform that makes fiat and cryptocurrency conversions astoundingly simple. This is part of Sparrow’s constant drive to improve the user experience for every client.
Protecting against security risks
To further optimize the trading journey at Sparrow, its technology stack marries web app development with efficiency and security. "We have adopted the industry’s best practices and designed a layered security architecture to provide multiple defensive measures against vulnerabilities and attacks," explained Liu Li, CTO of Sparrow
Sparrow offers innovative digital asset products and solutions. Headquartered in Singapore, Sparrow has established an options trading platform that aims to be secure, compliant, and intuitive for individual subscribers. In addition, Sparrow works with financial institutions and family offices in designing bespoke digital asset solutions to achieve customer-centric growth objectives, while not compromising on financial reporting and compliance requirements.
Backed by known investors in the digital assets space, we are also a partner of financial institutions and wealth managers. Established in 2018, Sparrow (through its entity Sparrow Tech Pte Ltd) has applied for a Major Payment Institution Licence under the Payment Services Act No. 2 of 2019 in 2020.