We are excited to share news of our inclusion within the inaugural group of pioneers from batch one of the new Cradle Fund’s CIP Spark innovation grant. We would like to take this opportunity to publicly thank CRADLE, who as The Malaysian Reserve reports; continues to support up-and-coming tech companies with RM8.24 million funding allocated to 28 start-ups for their business development under the new CIP Spark and CIP Sprint programmes that were launched in March this year as part of the 12th Malaysia Plan.
It was the Sun that reported, the 11 startups that were announced as the pioneer batch recipients include Beebag, CoKeeps, Officio.work, Apping Technology, Green QR, Cloud Theatre, De Eco SR Hygiene, Pinetop Technologies, Core Halal, Delyva and Neuon Ai. Business Today added that during the engagement session, where our inclusion in batch one was officially announced; Juliana Jan, Senior Vice President of Cradle Grants said; “These startups draw from a range of various industry verticals, have shown great potential in terms of technological advancement, business model innovation and market-fit solutions.”
The funding will be utilised to accelerate the enhancement of our core proprietary technology, the CoKeeps Wallet – an institutional grade digital asset management platform. CoKeeps Wallet enables organisations to access and manage digital assets in a secure environment, addressing accountability needs when funds are managed within teams.
It has been nearly two years since the Digital Asset Guidelines were enforced by the Securities Commission Malaysia. This provides much clarity as to exactly what is defined as digital assets (digital currencies and digital tokens) and what the capital markets in Malaysia can do with them. The guidelines introduce two new Recognised Market Operators known as Digital Asset Exchanges and Initial Exchange Offering platforms, both of which are required to work with third-party service providers such as CoKeeps in order to secure their assets. Innovating in the area of trust, from a location such as Malaysia is an extra special challenge that truly embraces what is possible with new technology surrounding managed self-custody, for which the three most technical questions CoKeeps are most often asked include:
- What is a managed self custody wallet?
- To what extent do we utilise virtual accounting?
- How do we generate or store cryptographic private keys?
