FRAC Sdn Bhd, a pioneering company at the forefront of web3 technology which specialises in asset fractionalisation has signed a memorandum of understanding (MOU) with GamBit Group Sdn Bhd to revolutionise asset management through innovative fractionalisation and secure custody solutions.
The strategic collaboration with GamBit Group which is a leading player in the digital asset and cryptocurrency industry will enable FRAC to leverage the power of web3 technology to create smaller, tradable units of ownership, unlocking capital and offering new growth and diversification opportunities for asset owners and investors.
“Our web3 technology transforms traditional asset management by providing unprecedented liquidity, investment flexibility, capital unlocking, and broadened investment opportunities,” commented FRAC’s CEO Japhet Lim Wei Jie on the strategic collaboration themed Empowering the Future of Asset Management”.
“This partnership with GamBit Group is a significant step towards realising the full potential of asset fractionalisation.”
A trusted partner in the digital asset ecosystem its secure custody solutions, GamBit Group brings its extensive expertise in providing secure and reliable custody solutions for digital assets.
Known for its robust infrastructure and commitment to security, GamBit Group is able to ensure that fractionalised assets created through FRAC’s platform are safeguarded with the highest standards of protection.
“As the digital asset landscape evolves, security and reliability are paramount. Our collaboration with FRAC ensures that fractionalised assets are innovative and secure, offering peace of mind to asset owners and investors,” GamBit Group CEO Datuk Clifford Hii Toh Leng pointed out.
More broadly, the FRAC-GamBit Group partnership marks a significant milestone in bridging traditional web2 business environments with cutting-edge web3 innovations.
The collaboration aims to create a seamless and secure process for managing fractionalised assets. This synergy enhances the trust and reliability of the fractional ownership market and fosters a more efficient and secure asset management ecosystem.
The MOU outlines several key areas of cooperation. GamBit Group will provide custody solutions for fractionalised assets created through FRAC’s platform, thus enhancing market trust.
Joint marketing initiatives will be explored to promote asset fractionalisation and secure custody solutions to a broader audience.
Moreover, the partnership also aims to launch educational programmes to raise awareness about the benefits of asset fractionalisation and digital asset custody while targeting investors, asset managers and other stakeholders in the financial industry.
Another salient term of the MOU is the commitment to exploring joint market expansion strategies.
This includes identifying new geographic and sectoral markets where the combined strengths of FRAC’s fractionalisation technology and GamBit Group’s custody solutions can be leveraged to meet emerging demand. – June 4, 2024
