This is only good for 500 users which do able to verify themselves - (KYC as usual).This isn't a bad marketing though but
reputation of this new exchange is still questionable.

Basing on whats being written on the article it did mention "Founded by Australian tech entrepreneur Marcus Lim (Oneflare), the Singapore based exchange has quickly amassed users across 57 countries." If this stats is true then it should really have some liquidity. Then why not being listed on  CMC?

So its clear that most thing being said on article aren't right or just simply making up things convincing yet its obvious that they didn't still able to reach out that state.