February 15, 2023

Rakkar Digital obtains Trust or Company Service Provider License

We are delighted to announce that we have successfully been granted a Trust or Company Service Provider (TCSP) License in Hong Kong.
Rakkar Digital obtains Trust or Company Service Provider License

We are delighted to announce that we have successfully been granted a Trust or Company Service Provider (TCSP) License in Hong Kong. This is an important milestone for us as the license is exclusively for those qualified corporate firms after satisfying the prescribed standard of practice and assessment. In addition, a TCSP licensee operates under the remit of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). Thus, we ensure that all activities are carried out by diligence measures and proper safeguards to prevent engagements in money laundering or terrorist financing. Therefore, the license adds confidence and credibility for our company to operate as qualified custodian for institutions.

We are a digital asset custodian powered by Fireblocks, utilizing MPC-CMP technology to protect private keys. With such security architecture, parts of private keys and other authentication materials are separated, encrypted, and entrusted to several stakeholders. This MPC-CMP algorithm reduces the risk that comes with storing these sensitive data points all in one place as well as being 8 times faster than the standard MPC algorithms.

With the passion to lead the digital asset custody and build infrastructure for the industry, we are certain in supporting our clients to protect their asset with the highest security. We are looking forward to expanding our business in Hong Kong and Southeast Asia.

We are grateful for your trust that you have placed with us. Please stay tune for our further product launch to the market.

To find out how we work, visit us at www.rakkardigital.com or contact us at contact@rakkardigital.com.

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.
Details
Date
May 27, 2024
Category
Institutions
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