Dear industry partners and clients,
Happy New Year!
As we step into 2025, it’s the perfect moment to reflect on the milestones achieved in the past year and set our sights on the opportunities that lie ahead. 2024 was a transformative year for Rakkar and the broader digital asset ecosystem, ending the year on a note higher than the last.
I am thrilled to announce that Rakkar closed the year with two monumental achievements, solidifying our position as Asia’s fastest-growing qualified custodian. Rakkar Thailand was granted the Digital Asset Custodian License by the Ministry of Finance under the supervision of the Securities and Exchange Commission of Thailand (SEC), underscoring our commitment to delivering secure and compliant custodial services in the region. Alongside this milestone, we also surpassed US$700 million in Assets Under Custody (AUC) in a span of 2 short years, a testament to the trust placed in our institutional-grade solutions. Discover more about these achievements here.
Market Review: December 2024
Stablecoins solidified their role in cross-border payments seeing over $200B in market cap and growing. I am excited to see how the stablecoin space would grow and bring value to financial institutions.
Meanwhile, regulatory advancements like MiCA in the EU and expanded digital asset sandboxes across Asia-Pacific laid the groundwork for a more secure and compliant industry, bridging traditional finance and blockchain technology.
December Highlights
Our Partnership with Agora
In December, we announced an exciting partnership with Agora, the creators of the AUSD stablecoin. This collaboration combines Rakkar’s certified custodial infrastructure, backed by ISO 27001, SOC 1, and SOC 2 certifications, with Agora’s innovative AUSD, a fully collateralized, bankruptcy-remote digital dollar. Backed by The Agora Reserve Fund, managed by VanEck and audited by PwC, AUSD offers unparalleled transparency and credibility. Together, Rakkar and Agora are empowering institutions, businesses, and individuals across the region with secure and compliant access to digital finance, unlocking new financial opportunities and driving innovation in the digital asset ecosystem.
Holiday Celebrations
With much to celebrate this year, the Rakkar team celebrated the festive season with a joyful Christmas and New Year dinner, filled with bountiful laughter to end the year. Reflecting on a year of incredible achievements, I extend my heartfelt thanks and wishes to our clients, partners, and my amazing team for a bright and prosperous 2025!
Starting the year on the right foot, I can’t wait to share more on the announcements coming up in relation to market expansion and new products. Stay tuned for more updates as we work toward another transformative year. Here's to a successful and collaborative journey ahead in 2025!
Warm regards,
Arthit Sriumporn
Founder and CEO of Rakkar
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