Rakkar Digital, a Singapore-based company providing digital asset custodian services to institutional and enterprise clients in Southeast Asia and Hong Kong, has announced the launch of Rakkar Digital Asset Custodian, powered by Fireblocks’ MPC-CMP direct custody technology.
The company has obtained a Trust or Company Service Provider (TCSP) Licence in Hong Kong and completed a $10 million seed funding investment in June 2022 by SCB 10X, the venture capital arm of Siam Commercial Bank. Rakkar Digital addresses the vulnerability to cyber threats within the digital asset industry as its grows by providing institutional-grade qualified custodian services to its clients.
Arthit Sriumporn, founder and CEO of Rakkar Digital, said: “From day one, we had a strong passion to build reliable infrastructure for the industry. We have come a long way with the launch of our institutional-grade qualified custodian services. We will continue to improve our products and services based on our core values: trust, security and authenticity. These milestones demonstrate our commitment to providing secure and reliable digital asset custodian services to institutional clients in the region.”
The Rakkar Digital Asset Custodian is built on cutting-edge technology and robust security measures with Fireblocks’ ultra-secure MPC-CMP technology, and hardware isolation enabling multi-layer security while maintaining flexibility. It is also compliant with Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). This ensures due diligence requirements are met and proper safeguards are in place to prevent money laundering or terrorist financing activities.
This development follows Fireblocks, Collider and MarketAcross hosting a Web3 startups event at the beginning of the year.