Challenge
Following Project Castor (the Securities Commission Malaysia's blockchain blueprint that I advised on), the regulatory framework for Digital Asset Custodians was established. Someone needed to build the first company to actually operate under it. The challenge: the regulatory approval process would take years, requiring sustained investment without revenue.
Approach
Rather than applying under R1 directly, I helped assemble a dedicated team and entity purpose-built for regulated custody. R1 provided two years of product development capital and three years of operational funding while the company waited for regulatory approval.
- Designed compliance architecture, KYC/AML pipelines, and custody infrastructure
- Applied DN-Key protocol (my decentralised key management standard) to regulated custody
- Navigated five years of regulatory process from initial application to approval
- Separate entity structure with appropriate compliance team
Outcome
CoKeeps became the first company in Malaysia to be approved as a regulated Digital Asset Custodian. Covered by The Edge Malaysia, Mashable SEA, and BFM Radio. Demonstrates both technical architecture capability and the patience required for regulated market entry.