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[SINGAPORE] As the dust settles after Chocolate Finance suspended instant withdrawals and debit card transactions earlier this week, the fintech platform will have to count the cost.

What is immediately apparent is the loss of trust that customers and consumers may have in Chocolate Finance, judging by the criticism in some online posts. 

The company’s founder and chief executive, Walter de Oude, has come out to assure investors that their funds are secure and denies any “liquidity issues”.

Chocolate Finance has since said the waiting time frame for customers who are looking to withdraw their funds will be three to six business days. It has also temporarily implemented a S$250 per transaction spending limit on its debit card.

But the negative responses on social media indicate that more than a few investors will be eager to take their money out from the platform after this.