The culmination of Project Castor brought about the introduction of regulation surrounding Digital Asset Custody within the Malaysian capital markets. This put my company, R1 in a unique position to capitalize upon its intimate knowledge of the Securities Commission’s requirements.
Instead of applying for approval under the R1 brand, a new company was formed and a more appropriate team was assembled. R1 helped to fund the early development of the product for two years as well as the first three years in which the company needed to be operational but was unable to conduct business due to not being approved to do so.
Our five years of perseverance paid off when it was announced that CoKeeps had become the first company in Malaysia to be approved as a regulated Digital Asset Custodian in Malaysia.
