April 30, 2024

Founder’s Note: April 2024

As I look back on April 2024, I'm filled with excitement about the positive momentum and dynamic developments that characterized the month. In a landscape characterized by rapid digital transformation and evolving financial paradigms, the past month has been particularly eventful.
Founder’s Note: April 2024

Dear industry partners and clients,  

As I look back on April 2024, I'm filled with excitement about the positive momentum and dynamic developments that characterized the month. In a landscape characterized by rapid digital transformation and evolving financial paradigms, the past month has been particularly eventful.  

Market Review

April 2024 witnessed significant developments in the financial landscape, with Hong Kong’s launch of cryptocurrency exchange-traded funds (ETFs), marking a pivotal moment in embracing further adoption within APAC. As countries start to play catch-up, it will be interesting to observe the jurisdictions that may continue this approval momentum.  

Meanwhile, RWA tokenization is revolutionizing traditional investment models by digitizing real-world assets, unlocking liquidity, and enhancing accessibility for investors. These include tokenzied money market funds, US treasury bills, bonds and more which signifies an exciting time for the industry. These trends highlight the growing convergence of traditional finance and digital assets, underscoring the need for market participants to adapt to changing dynamics and capitalize on emerging opportunities for innovation and growth.

April – A Month of Meaningful Connections

With Money 20/20 Asia taking center stage, April was one of the most exciting and fulfilling months since 2024.  

Whitepaper Launch Event in Singapore

Our recent whitepaper launch event was a resounding success. With ever-evolving regulations in digital asset custody across APAC, our event provided valuable insights to institutional clients into navigating compliance while maintaining operational efficiency. We were honored to have industry thought leaders from Blockchain Association Singapore (BAS), GSG Asset Management, OpenEden, ACCESS Digital Asset Management Subcommittee (ADAMS) and Chainanalysis sharing their expertise across their different backgrounds. For the readers who may be interested in understanding the latest regulations across APAC with regards to digital asset custody, feel free to download our whitepaper here.  

Rakkar’s Custody in Burgundy

Amidst the bustling atmosphere of Money20/20 and SEA Blockchain Week, we had the privilege of hosting our wine-testing side event with my close industry friends from both Singapore and Thailand. I personally selected 7 burgundy wines for this occasion, aiming to enhance the experience and create memorable moments for all attendees. As glasses clinked and conversations flowed, it was a night filled with laughter, camaraderie, and shared enthusiasm for what the future holds.

VIP Dinner hosted alongside Blockdaemon

We gathered new and old friends for a dinner of exquisite Thai food at House of Sathorn, a beautiful preserved traditional thai architecture, alongside Blockdaemon as the first day of Money20/20 comes to an end. This exclusive gathering provided a relaxed yet stimulating environment for partaking in meaningful conversations with connections that will last a long time.

4 Panels in 7 Days

I spoke at 6th Blockchain International Scientific Conference ISC2024, Tokenization Summit 2024, SEABW and Onchain 2024, covering panel topics that span across different genres. To summarise my discussions with my fellow panellists, there is truly still so much for us to do to get to a place of mass adoption – from education to regulator discussions. More importantly, let’s all continue to play a part to move the industry forward, one step at a time.  


Foreseeing Next Month

As we anticipate the unfolding of the coming month, I'm energized by the announcements we have in in preparation to further our commitment to provide the best-in-class digital asset solutions for institutional investors. Please keep a keen eye!  

Additionally, we are eager to explore further opportunities for partnerships and strategic alliances. If this may be of interest, please do not hesitate to reach out to me or my team.  

With gratitude for your ongoing support and collaboration, I look forward to the journey ahead.  

Warm regards,  

Arthit Sriumporn

Founder and CEO of Rakkar Digital

About Rakkar

Rakkar 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 and Type 2, Rakkar Digital remains unwavering in its mission to offer the most secure, institutional-grade custodian services across Asia.

Disclaimer: Digital assets involve risks; investors should complete independent due diligence and research to carefully make investments according to their own risk profile.
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Date
May 13, 2024
Category
Markets
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