ACCESS Tribute to Yu Sing
Chew Yu Sing is my friend, my business partner, my mentor and practically my father in Singapore, even though we are only 13 years apart - which shows how wise he is for his age. He has recently passed away due to oesophageal cancer. Yu Sing has influenced me from my personal relationships to ultimate life-changing decisions in both life and business. The first meeting with Yu Sing back in 2014 changed my life forever.
One of the biggest legacies that will forever be credited to Yu Sing, is the present success of Association of Cryptocurrency Enterprises and Startups (ACCESS). Those who know, would know that behind every success was an initial struggle. Yu Sing has been synonymous with the development of the association since 2015 and eventually contributed greatly to its success. ACCESS is now one of the world’s most respected cryptocurrency and blockchain associations, assisting global regulators in tackling money laundering and making sense of the ever changing landscape in the cryptocurrency space.
While managing my own startup back then, in Mountain View, California, Yu Sing was there on multiple calls with me, advising how to navigate through my challenges, bringing in his previous experiences from Visa, DBS and Barclays. I remember vividly that he asked me back in 2015: “Would you rather I invest in your company? Or advise you on practically everything you need advice on?” I was very happy to have chosen the latter.
One of the biggest footprints in which ACCESS paved the way for the cryptocurrency ecosystem in Singapore, was the Code of Practice. Recruiting the right members to help write up the code was a key contribution, and it was the fruit borne from none other than the time and effort sown by Yu Sing himself!
Not only has Yu Sing’s work positively influenced his home country of Singapore, Yu Sing has also contributed to regulatory work to the highest levels of inter-governmental initiatives, the Financial Action Task Force (“FATF”). The Independent Assessment (“IA”) Initiative that Yu Sing came up with, ultimately caught the keen eyes of the different regulators in the Virtual Asset Contact group of the FATF. IA not only helped provide a framework for independent assessment of service providers that can help cryptocurrency companies comply with the FATF recommendations, it also enhanced the company standards of those that went through the assessment.
Yu Sing will be sorely missed but forever remembered. All his mentees, including myself, have grown through the years and we’ll forever remember and put in practice the lessons and experiences you have passed on to us.
In Loving Memory,
on behalf of ACCESS