Nov 15, 2023
Singapore, 15 November 2023 – Rakkar Digital, a qualified custody provider for institutions backed by Siam Commercial Bank’s SCB10X, today announced its strategic partnership with OpenEden, days after their announcement in their Singapore Fintech Festival 2023 sponsorship.
This collaboration is set to redefine and innovate the landscape of digital assets, offering institutions an unparalleled blend of security from a bank-grade qualified custodian, and accessibility to transparency and liquid asset mediums.
Arthit Sriumporn, Founder & CEO of Rakkar Digital, commented, "Our collaboration with OpenEden is a testament to Rakkar Digital's commitment to building a security-first approach to digital asset custody without compromising on accessibility and operational flexibility. This partnership will empower our institutional clients with custody and accessibility to yield opportunities on lower-risk tokenised financial products in a safe, transparent and compliant manner."
Rakkar Digital will be integrating with OpenEden’s tokenised RWA Vault, which will provide Rakkar Digital’s institutional clients access to TBILL, OpenEden’s RWA token, that provides yield opportunities and exposure to U.S. Treasury Bills.
Eugene Ng, co-founder of OpenEden and ex-Gemini's Head Business Development of APAC, shares, "The partnership with Rakkar Digital provides a lower-risk access point for institutional investors, especially those who are familiar with traditional finance products, to enter the world of digital assets in a safe, transparent and frictionless manner.”
This collaboration is poised to set new industry standards amidst the growing demand for tokenised RWA and third-party custodian services, leveraging the strengths of both companies. With Rakkar Digital's emphasis on asset security and OpenEden's expertise in tokenization, users can expect a seamless and secure institutional investing experience.
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About Rakkar Digital: Rakkar Digital stands as Asia's leading qualified digital asset custodian, offering unparalleled asset security to financial institutions. Fortified by our strategic backing from SCB 10X, the investment arm of the Siam Commercial Bank, Rakkar Digital helms the industry’s leading bank-calibre security measures and compliance frameworks. Founded in 2022 and belting esteemed security excellence certifications such as ISO 27001 and SOC 2 Type 1, Rakkar Digital remains unwavering in its mission to offer the most secure, institutional-grade custodian services across Asia.
About OpenEden: OpenEden Labs Pte. Ltd. is a blockchain technology provider building the bridge to a new financial system. Our mission is to bring real-world assets on-chain to unlock trillions of dollars in value. We believe that internet-native money and decentralization will open access to real-world assets for everyone on a global scale, creating a more inclusive, efficient and free-flowing economy.
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