Rakkar, a digital asset custody supplier backed by SCB 10X, has been awarded a Digital Asset Custodian License by the Ministry of Finance of Thailand.
The license was issued beneath the supervision of the Securities and Change Fee (SEC) of Thailand.
The approval allows Rakkar to supply safe and compliant digital asset custody companies to establishments working in Thailand.
The corporate is at the moment getting ready to activate the license and start operations within the nation.
Moreover, Rakkar Digital Group reported that it has reached US$700 million in property beneath custody,
The corporate gives custody companies to a spread of institutional purchasers, together with exchanges, brokers, and fund managers.
Rakkar can be a part of Fireblocks’ International Custodian Associate Programme, a community of licensed digital asset custodians working to fulfill evolving regulatory requirements.
Arthit Sriumporn, Founder and CEO of Rakkar, mentioned,
“These twin milestones replicate the power of our imaginative and prescient and the boldness our purchasers place in our capabilities and options.
With the strategic help of SCB 10X and the unwavering help of our purchasers and companions, we stay resolute in setting the gold requirements for end-to-end safety, compliance, and innovation as we empower establishments to embrace the digital asset economic system with belief and confidence.”
Mukaya Tai Panich, CIO & CEO of SCB 10X, mentioned,
“Rakkar Digital Group’s fast rise within the area, exemplified by securing Thailand’s Digital Asset Custodian License and surpassing US$700M in AUC inside two years, displays their management and immense progress potential within the digital asset house.
SCB 10X, a enterprise capital arm of SCBX Group, is proud to help Rakkar Thailand’s mission to set new benchmarks in enabling institutional-grade digital asset custodial options in Thailand and foster belief within the quickly evolving digital asset ecosystem within the area.”
