Rakkar, the SCB 10X-backed digital asset custody provider, has received a digital asset custodian license from the Ministry of Finance of Thailand.
This license was issued under the supervision of the Securities and Exchange Commission of Thailand (SEC).
This approval will enable Rakkar to provide secure and compliant digital asset custody services to institutions operating in Thailand.
The company is currently preparing to activate its license and start operations in the country.
Additionally, Rakkar Digital Group reported that assets under custody reached USD 700 million.
The company provides custody services to a wide range of institutional clients, including exchanges, brokers, and fund managers.
Rakkar is also a part of it. Fireblocks Global Custodian Partner Programa network of licensed digital asset custodians working to meet evolving regulatory standards.
Arthit Sriumporn, Founder and CEO of Rakkar, said:
“These two milestones reflect the strength of our vision and our customers’ confidence 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 establishing the gold standard in end-to-end security, compliance and innovation, ensuring that financial institutions can securely and confidently manage their digital assets. Allowing you to embrace the economy. Confidence. “
said Mukaya Tai Panich, CIO and CEO of SCB 10X.
“Rakkar Digital Group’s rapid rise in the region, exemplified by securing a digital asset custodian license in Thailand and exceeding USD 700 million in AUC within two years, is a testament to their leadership in the digital asset space. and reflects immense growth potential.
SCB 10X, the venture capital arm of SCBX Group, sets a new benchmark in delivering institutional-grade digital asset custody solutions in Thailand and fosters confidence in the region’s rapidly evolving digital asset ecosystem We are proud to support Rakkar Thai’s mission. ”
