Digital asset services are gaining significant traction in Malaysia, particularly as a preferred transaction method, with projected revenue of US$312.1 million in 2024. Much of this growth is being driven by SMEs and local investors, highlighting the urgent need for secure and transparent platforms. Enter GamBit Custody, a subsidiary of Malaysia’s GamBit Group and the country’s first Token Crowdfunding wallet for issuers.
Recently approved by the Securities Commission as a Digital Asset Custodian (DAC), GamBit Custody is set to bolster the security of innovative fundraising models. One notable achievement was its role as the custody wallet for BidNow, an e-auction platform that completed Malaysia’s first Token Crowdfunding campaign two weeks ago.
The campaign, hosted on PitchIN’s Initial Exchange Offering (IEO) platform, raised RM10 million via utility tokens, underscoring rising investor confidence in token-based fundraising.
Additionally, GamBit Custody safeguards digital assets for Frac, a tokenisation enabler for enterprises across luxury assets, NGOs, and intellectual property, helping them enter the market at reduced costs and time.
“While most digital asset custodians cater to crypto exchanges or institutions, we focus on SMEs’ unique needs. We’ve identified a gap in providing affordable digital asset wallets, and we aim to bridge that with secure, cost-effective custodial solutions,” said Datuk Clifford Hii, Founder and CEO of GamBit Group.
In alignment with these advancements, GamBit Group has launched the RM100 million GamBit Growth Fund to support expansion into fiscal and digital asset sectors. This fund will fuel investment in new opportunities and the development of cutting-edge in-house technologies. The company’s vision is to create a cross-asset management ecosystem that democratizes access to financial services nationwide.
A key initiative includes addressing the funding challenges SMEs face, especially in regions like East Malaysia. GamBit Group plans to allocate up to RM20 million to support local SMEs in Sarawak, helping them access government grants and resources.
“I see the next decade of growth emerging from Sarawak, with its stable government and openness to new technologies. SMEs in Sarawak need access to innovations like blockchain-verifiable certificates and carbon trading, which we plan to bring to life,” added Clifford.
With a continued focus on innovation and security, GamBit Group is solidifying its role as a transformative force in Malaysia’s digital finance landscape.
For more information, visit [GamBit].
