Rakkar secures Thailand’s Digital Asset Custodian License
06 January 2025 Thailand
Image: Feodora/stock.adobe.com
Rakkar, a portfolio company of SCB 10X (venture capital arm of SCBX Group) has been granted the Digital Asset Custodian License from the Ministry of Finance under the supervision of the Securities and Exchange Commission (SEC) of Thailand.
The company is currently under preparation for license activation prior to commencing its licensed business in Thailand.
The firm says this license empowers it to operate as a fully-licensed custodian in Thailand’s dynamic digital asset market, enabling regulated institutions to secure and manage digital assets with unparalleled private key security and efficiency.
Arthit Sriumporn, founder and CEO of Rakkar, comments: “These dual milestones reflect the strength of our vision and the confidence our clients place in our capabilities and solutions.
“With the strategic support of SCB 10X and the unwavering support of our clients and partners, we remain resolute in setting the gold standards for end-to-end security, compliance, and innovation as we empower institutions to embrace the digital asset economy with trust and confidence.”
Mukaya Tai Panich, CIO and CEO of SCB 10X, states: "Rakkar Digital Group’s rapid rise in the region, exemplified by securing Thailand's Digital Asset Custodian License and surpassing US$700M in AUC within two years, reflects their leadership and immense growth potential in the digital asset space.”
The company is currently under preparation for license activation prior to commencing its licensed business in Thailand.
The firm says this license empowers it to operate as a fully-licensed custodian in Thailand’s dynamic digital asset market, enabling regulated institutions to secure and manage digital assets with unparalleled private key security and efficiency.
Arthit Sriumporn, founder and CEO of Rakkar, comments: “These dual milestones reflect the strength of our vision and the confidence our clients place in our capabilities and solutions.
“With the strategic support of SCB 10X and the unwavering support of our clients and partners, we remain resolute in setting the gold standards for end-to-end security, compliance, and innovation as we empower institutions to embrace the digital asset economy with trust and confidence.”
Mukaya Tai Panich, CIO and CEO of SCB 10X, states: "Rakkar Digital Group’s rapid rise in the region, exemplified by securing Thailand's Digital Asset Custodian License and surpassing US$700M in AUC within two years, reflects their leadership and immense growth potential in the digital asset space.”
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