Founder’s Note: August 2024

Dear industry partners and clients,  

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Market Review

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With great pride I share that Thai Securities and Exchange Commission (SEC) has introduced its Digital Asset Regulatory Sandbox. This initiative allows for the testing and development of digital asset services, including exchanges, brokers, dealers, fund managers, advisors, and custodial wallet providers, within a controlled and flexible regulatory framework. By fostering innovation in a secure environment, the Thai SEC is paving the way for more robust and innovative digital asset offerings in the region, further contributing to the global momentum in digital finance.

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As regulatory frameworks and innovative platforms continue to evolve, they set the stage for a more secure, efficient, and dynamic financial ecosystem to benefit all market players.

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August 2024 Milestones

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WaanX Select Rakkar as Digital Asset Custodian

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We are excited to announce that WaanX, a cryptocurrency exchange and brokerage licensed by the Thai Securities and Exchange Commission (SEC) and founded by Khun Chaval Jiaravanon, has appointed Rakkar as their official digital asset custodian. This strategic partnership is a testament to Rakkar’s unwavering commitment to providing an exceptional custodial experience for regulated financial institutions across jurisdictions to meet the highest levels of asset security, while meeting the diverse regulatory requirements across jurisdictions.

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Rakkar’s Pillars of Trust: A Deep Dive into Our Security Certifications

As Asia’s leading qualified digital asset custodian, security at Rakkar is paramount. Our dedication to safeguarding digital assets is reflected in the esteemed security excellence certifications and attestations we have obtained, including the coveted ISO27001, SOC 1 Type 1, SOC 2 Type 1, and SOC 2 Type 2.  

ISO 27001 certifies our robust information security management, ensuring that we protect sensitive data through stringent security controls. SOC 1 Type 1 and SOC 2 Type 1 attest to the effectiveness of our internal controls, with SOC 1 focusing on financial reporting and SOC 2 on data security and privacy. SOC 2 Type 2 goes further, validating the continuous operational effectiveness of these controls over time.

These credentials reflect our dedication to delivering the highest levels of security, privacy, and operational excellence. At Rakkar, trust is built on our unwavering commitment to protecting our clients' digital assets with the utmost integrity and transparency.

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Stay Gold Mixer: OKX & Rakkar in Bali

Coinfest Asia 2024 happened in August, and we had the opportunity to collaborate with OKX Institutional to organise Stay Gold Mixer, a side event held at Mari Beach Club against the beautiful summer backdrop of the Bali sunset. It was a resounding success, and I particularly enjoyed fostering new connections and exploring new opportunities for collaboration. I understand many did not manage to join us this round, but I hope to have you join us for our next event.

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Asia Fintech Awards 2024 in Singapore

We are incredibly honoured to have been finalists in three prestigious categories at the Asia Fintech Awards 2024—a remarkable achievement, especially considering that this is our very first year in the market. Being recognized in multiple categories so early in our journey is a strong validation of our team’s relentless drive to innovate and set new standards in the digital finance space. This accomplishment underscores our commitment to delivering excellence and building a robust presence in the industry from day one.

The event also provided a valuable opportunity to reconnect with our trusted partner, DigiFT, and to engage with other industry leaders such as DTCpay and Triple-A. These interactions not only strengthen our existing relationships but also inspire us to continue pushing the boundaries of what’s possible in fintech.

We extend our heartfelt congratulations to all the winners and finalists, and we look forward to further contributing to the evolution of the fintech landscape, driving innovation, and setting new benchmarks for excellence.

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Looking ahead

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As we celebrate these milestones and reflect on the progress we've made, I anticipate the developments and opportunities the coming months will bring.

If you will be in Singapore during TOKEN2049 week, please reach out to me via LinkedIn and let’s grab a coffee.  

Do stay tuned for more updates as we continue to drive innovation and excellence in the digital asset space. Thank you for your ongoing support.

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Warm regards,  

Arthit Sriumporn

Founder and CEO of Rakkar Digital