Keep your crypto safe! Here's RakkaR Digital. They built a custody platform that helps companies easily manage and store their digital assets — like NFTs. Now, they've just raised $10M from Thailand's SCB 10X!

• Founded early this year, they mainly focus on SEA-based clients including ANZ, BNP Paribas, BlockFi and Nexo.
• Crypto custody? This is about keeping the crypto secure and away from theft. Crypto custodians are like crypto banks!

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🤷🏻‍♀️ Why it matters

When companies have cash, they keep it in the bank to easily store, protect and manage it. It's the same with crypto! When your company holds crypto, you want to keep it all safe somewhere too — like a custody platform.

• Custody platforms are like banks but for crypto and NFTs.
• Custody platforms keep the crypto and NFTs safe from loss, theft, unauthorized use or mistakes.

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🤔 How it works

They've built an ultra-secure Multi-Party Computation (MPC) wallet where you can easily view, manage and withdraw your crypto.

• They support 1000+ tokens across 35 protocols.
• MPC tech protects your private keys (aka, the "passwords") that people use to access their crypto.
• RakkaR and MPC split and encrypt your private keys and other authentication materials and entrust them to different stakeholders.

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Ok, but why? This removes the risk of storing all your private keys in one place.

Think storing all your bank details in one password manager — if it gets hacked, all your $$$ (in this case, all your crypto) could be gone! MPC lets you split, encrypt and separately store all those "bank details."

• RakkaR also allows you to set rules on using your company's crypto, like approvals and transaction limits within your team.
• Private keys stored on RakkaR can't be extracted even if malware or a hacker took control of the server.

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💰 What's with the $$$?

They'll be using the new cash to expand across SEA and Hong Kong!