Digital asset services in Malaysia are gaining momentum, with projections indicating revenue generation of US$312.1 million in 2024. As small and medium enterprises (SMEs) and local investors increasingly turn to digital assets for transactions, the demand for secure and transparent platforms has intensified.
GamBit Custody, a subsidiary of homegrown digital asset solutions provider GamBit Group, is stepping up to meet this need as Malaysia’s first Token Crowdfunding wallet for issuers.
Recently approved by the Securities Commission as a Digital Asset Custodian (DAC), GamBit Custody is set to enhance the security of innovative fundraising models. The company recently played a pivotal role in Malaysia’s first-ever Token Crowdfunding, which saw e-auction company BidNow raise RM10 million through utility tokens on the Initial Exchange Offering (IEO) platform PitchIN.
In addition to its work with BidNow, GamBit Custody provides digital asset protection for Frac, a tokenisation enabler catering to enterprises in the luxury asset, NGO, and intellectual property sectors. Frac’s model allows enterprises to enter the market at a fraction of the usual cost and time.
“Our infrastructure is tailored to meet the needs of SMEs, offering affordable and secure digital asset wallets without straining their finances,” said Datuk Clifford Hii, Founder and CEO of GamBit Group. “We identified a gap in providing these services to SMEs and aim to bridge it.”
In line with its expansion plans, GamBit Group has launched the RM100 million GamBit Growth Fund to fuel growth in the fintech and digital asset sectors. The fund will focus on investing in emerging opportunities and developing in-house technologies, positioning the company as a leader in innovation.
A significant portion of the fund, up to RM20 million, will be allocated to support SMEs in Sarawak, the home state of Datuk Clifford Hii. The initiative seeks to address challenges local businesses face in securing financing and accessing essential government resources.
“I believe Sarawak has immense growth potential, particularly with its openness to new technologies,” added Hii. “Our custodian infrastructure will support not just cryptocurrency but also blockchain-verifiable certificates, carbon trading, and potentially even National ID systems.”
