Rakkar, a digital asset custody provider backed by SCB 10X, has been awarded a Digital Asset Custodian License by the Ministry of Finance of Thailand.
The license was issued under the supervision of the Securities and Exchange Commission (SEC) of Thailand.
The approval enables Rakkar to offer secure and compliant digital asset custody services to institutions operating in Thailand.
The company is currently preparing to activate the license and begin operations in the country.
Additionally, Rakkar Digital Group reported that it has reached US$700 million in assets under custody,
The company provides custody services to a range of institutional clients, including exchanges, brokers, and fund managers.
Rakkar is also part of Fireblocks’ Global Custodian Partner Programme, a network of licensed digital asset custodians working to meet evolving regulatory standards.
Arthit Sriumporn, Founder and CEO of Rakkar, said,
“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 & CEO of SCB 10X, said,
“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.
SCB 10X, a venture capital arm of SCBX Group, is proud to support Rakkar Thailand’s mission to set new benchmarks in enabling institutional-grade digital asset custodial solutions in Thailand and foster trust in the rapidly evolving digital asset ecosystem in the region.”
