JadaEx Receives Conditional Approval as Digital Asset Custodian from Securities Commission Malaysia

KUALA LUMPUR, Malaysia, Aug. 13, 2024 /PRNewswire/ -- JadaEx has officially received conditional approval from the Securities Commission Malaysia (SC) to operate as a Digital Asset Custodian (DAC). The SC's endorsement marks a significant milestone, recognising the increasing importance of digital assets in the financial portfolios of both individual and institutional investors.

Datuk Syed Mohamed Syed Ibrahim, Chairman of the JadaEx Board, expressed his gratitude, stating, "We are deeply appreciative of the trust and guidance provided by the Securities Commission throughout the application process. This achievement not only highlights our commitment to delivering a secure and compliant DAC service but also our dedication to contributing actively to the growth of Malaysia's digital asset landscape."

As an independent third-party custodian in Malaysia, JadaEx is positioned to serve digital asset exchanges, asset/fund managers, and high-net-worth individuals, ensuring a secure custodial environment under the SC's regulatory framework.

JadaEx differentiates itself with an institutional-grade digital asset management system, provided in collaboration with its technology partner, Hydra X. This partnership enables JadaEx to integrate cutting-edge technological solutions with continuous regulatory compliance, thereby enhancing the offerings available to Malaysian financial institutions and their customers.

Hydra X is a Singapore-based fintech group which offers trusted, regulatory-compliant digital technology and infrastructure for the capital markets. Its technology suite spans tokenisation solutions, core exchange platforms, as well as custody and clearing infrastructure.

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About JadaEx

JadaEx is a leading digital asset custodian dedicated to providing secure, compliant, and innovative solutions for the safekeeping of digital assets. With a focus on institutional-grade security and regulatory adherence, JadaEx aims to serve a diverse clientele, including financial institutions, digital asset exchanges, and individual investors. For more information, visit www.jadaex.com.

SOURCE Jada Platform Sdn Bhd