Gambit Custody Gets SC’s In-Principle Nod for Digital Asset Custody Licenseby Fintech News Malaysia October 18, 2023 0 comments
Gambit Custody, a player in the digital asset custody industry, announced that it has received in-principle approval from the Securities Commission Malaysia (SC) for its Digital Asset Custodian (DAC) license.
The conditional approval granted by the SC signifies a significant milestone for Gambit Custody.
This in-principle approval paves the way for Gambit Custody to commence operations, pending the fulfilment of regulatory requirements within the next six months.
In Gambit Custody’s view, securing a DAC license is pivotal in the rapidly evolving digital asset ecosystem, ensuring stringent protection and adept management of digital assets for diverse institutional and business clients.
At the helm of Gambit Custody is Datuk Clifford Hii, the former Group Managing Director of HCK Capital Group Berhad, where he previously spearheaded property development projects such as the education city series in Malaysia.
Datuk Clifford Hii, CEO of Gambit Custody said,
“We aim to become the go-to provider for secure digital asset custody in Malaysia and beyond. While the digital asset industry is rapidly evolving, we recognise the need for tailored, secure, and innovative solutions.
To achieve this, we will work closely with regulators, institutions, and enterprises to co-create a robust digital asset ecosystem.”