Funding Societies entrusts crowd funding funds with MAS-registered Trustee

Funding Societies — a peer-to-peer (P2P) lending marketplace — has selected Orangefield Trust to hold the crowdfunding funds received from lenders.
Given the absence of a governed framework in P2P lending in Singapore, the onus is on P2P lending platforms to find ways to gain the confidence of lenders. This collaboration thus aims to provide lenders and borrowers increased transparency and protection as Orangefield Trust has a trust business licence that is issued by the Monetary Authority of Singapore.