![[L-R] Cradle Fund Group CEO, Norman Matthieu Vanhaecke; Midwest Composites CEO, Sethu Raaj; Growth Charger Director, Iskandar Shafi’i; Pegasus Tech Ventures Investor, Yonathan Vincent Xavier.](https://i0.wp.com/nasilemaktech.com/wp-content/uploads/2024/09/growthcharger-Picture-1-Winner.webp?resize=218%2C150&ssl=1 "From Malaysia to Silicon Valley: Midwest Composites Set to Compete in Startup World Cup Grand Finale")
Local digital asset solutions provider GamBit Group has announced they are launching the new RM100M GamBit Growth Fund to help SMEs grow and expand their businesses.
The decision was revealed after recently approved by the Securities Commission as a Digital Asset Custodian (DAC) through its subsidiary GamBit Custody whose expertise revolves around offering innovative yet secure fundraising models notable serving as the custody wallet for BidNow, an e-auction company that successfully completed Malaysia’s first-ever Token Crowdfunding two weeks ago.
Ohter than that, GamBit Custody also protects digital assets for Frac, a tokenisation enabler for enterprises in sectors like luxury assets, NGOs, and intellectual property. Frac’s method allows enterprises to go to market at just one-tenth of the typical cost and in one-third of the time.
With the digital asset services leading a fast momentum in Malaysia, the GamBit Growth Fund will be allocated for growth initiatives, focusing on investing in emerging opportunities and enhancing in-house technologies, allowing the group to maintain its innovative edge within the fintech ecosystem.
A key part of this strategy is addressing the challenges local SMEs face in securing funding, especially the limited access to reliable financing options. East Malaysia, with its growing economic potential and unique accessibility issues, is a particular area of focus.
GamBit Group, returning its attention to Sarawak, where its founder Datuk Clifford Hii hails from, is dedicating up to RM20 million to support local SMEs. This funding will help them tap into crucial government grants and resources.
GamBit Group continues to lead in innovation and security in the digital finance space. Its focus on co-creation, paired with strategic business initiatives, highlights its role as a driving force in the financial services industry’s growth and transformation.
The Founder and CEO of GamBit Group, Datuk Clifford Hii, shared his thoughts and opinions on the occasion.
“While many digital asset custodians globally serve crypto exchanges or institutions, we focus on catering our infrastructure to the unique needs of SMEs. We identified a gap in providing affordable digital asset wallets for enterprises without them burning through their finances, and we hope GamBit Custody will help bridge it by offering secure, cost-effective custodial solutions.”
“I believe the next decade of growth will emerge from Sarawak, thanks to the state government’s stability and openness to new technologies. What Sarawak’s SMEs need now is access to these emerging technologies, and this is where Gambit Group steps in. Our custodian infrastructure extends beyond cryptocurrency to include blockchain-verifiable certificates, carbon trading, and potentially even National ID systems. These are the innovations I am excited about, and I see this vision coming to life in Sarawak.”
For more information about GamBit Group, you can visit https://www.gambit.com.my/.
Like our Facebook Page here at NasiLemakTech.com for more news and in-depth reviews! Also, join our Facebook Group for insightful information and memes!
Subscribe to our YouTube channel too!
