SET-listed PTG Energy’s Maxbit Attains Compliance with Appointment of Digital Asset Custodian
Singapore, 6 March 2024 - Rakkar Digital, Asia’s leading qualified digital asset custodian, has been appointed as custodian by Maxbit, a licensed digital asset brokerage company based in Thailand and a joint venture of PTG Energy Public Company Limited (PTG), the second-largest fuel trader in Thailand listed on The Stock Exchange of Thailand (SET).
This strategic partnership aims to leverage Rakkar Digital’s industry-leading security infrastructure certified by the coveted ISO27001 and SOC 2 attestation which will aid Maxbit to meet compliance obligations as a licensed digital asset brokerage under The Securities and Exchange Commission, Thailand (SEC). The operational agility provided by Rakkar Digital will also allow Maxbit to seamlessly serve its growing user base in an agile and transparent manner.
Rakkar Digital, a qualified digital asset custodian backed by SCB 10X, the investment arm of the Siam Commercial Bank, delivers institutional-grade custody solutions that also employs bank-calibre controls such as asset segregation, bankruptcy remote mechanisms, and asset insurance.
Pokkhet Ratchakitprakarn, CEO of Maxbit, expressed enthusiasm about the collaboration, stating, “I am excited to partner with Rakkar Digital, a premier crypto custodial service known for its robust support across multiple blockchain networks. This partnership empowers us to swiftly expand our cryptocurrency offerings, providing our Thai clients unparalleled portfolio diversification opportunities. Rakkar Digital’s steadfast commitment to security and regulatory compliance reassures our clients that their investments are secure and conform to stringent regulatory standards. This collaboration marks a significant stride towards a future where secure, diverse, and compliant crypto investments are the norm.”
Arthit Sriumporn, Founder and CEO of Rakkar Digital, echoed the sentiment, saying, “As institutional adoption continues to grow as with the recent spot Bitcoin ETF approvals, clarity in regulations and tighter asset security requirements are expected to come. Rakkar Digital, as a trusted and qualified digital asset custodian, envisions to be a strategic growth partner for institutions such as Maxbit to achieve compliance, security, and agility.”
This appointment came shortly after the recent announcement of Rakkar Digital’s appointment by InnovestX Securities as custodian.
For more information about the partnership and the services offered, please visit Rakkar Digital’s official website and Maxbit’s official website.
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-caliber security measures, compliance frameworks and operational agility. Founded in 2022 and belting esteemed security excellence certifications such as ISO 27001 and SOC 2 Type 1 & 2, Rakkar Digital remains unwavering in its mission to offer the most secure, institutional-grade custodian services across Asia.
For more information, please visit www.rakkardigital.com.
About Maxbit
Maxbit, is a joint venture led by PTG Energy PCL, it represents the company’s strategic expansion into the financial sector, as part of PTG’s non oil strategy. This move was influenced by PTG’s multi-year observation of the Digital Asset market, noting its escalating growth, advancement, and rising acceptance both globally and within Thailand. This venture signifies PTG’s proactive approach to diversify its business portfolio.
For more information, please visit www.maxbit.com.