Your money is kept entirely unmingled with StashAway's finances, and your assets will always be held in large institutions. Your cash deposits will be held by our Trustees, Pacific Trustees, in their account at Citibank Berhad.
Citibank Berhad will then convert your RM into USD onshore, and transfer it to our broker (Saxo Capital Markets Pte Ltd), which purchases the ETFs on your behalf. Therefore, your investable cash and securities are held in a custodian account at Saxo. Pacific Trustees is a SC-licensed trustee that provides custodial services to StashAway Malaysia.
Your cash deposits are held with Pacific Trustees's Citibank Berhad account. Pacific Trustees has opened this account specifically to keep safe the assets of StashAway Malaysia's customers. Similarly, the account with our broker Saxo is also opened by Pacific Trustees. This provides additional security for customers and protects customers from the unlikely event that StashAway Malaysia goes bankrupt, as customers' funds are unmingled with StashAway Malaysia's.
We are regulated by the Securities Commission Malaysia. StashAway is the first robo-advisor in Malaysia to be awarded the Capital Markets License by the Securities Commission under the Digital Investment License Framework. You can find our license here.