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Cambodia Launches First Digital Assets Exchange, Paving the Way for Digital Economy

by Surya Narayan
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In a momentous occasion, Cambodia has entered the digital financial landscape with the launch of the Royal Group Exchange (RGX) trading platform. Serving as the country’s premier digital assets exchange, this initiative is a significant milestone for Cambodia’s financial industry.

Supported by blockchain technology, the new exchange, fully owned by the Royal Group and approved by the Securities and Exchange Regulator of Cambodia (SERC) through its Fintech Sandbox Scheme, offers a secure, transparent, and efficient environment for trading a diverse range of digital securities products.

The RGX platform presents exciting opportunities for individuals and businesses in Cambodia to participate in the global digital economy. It provides access to over 100 digital assets, including popular cryptocurrencies such as Bitcoin and Ethereum. The exchange offers spot and futures trading, catering to the needs of both experienced and new investors.

Powered by technology from X-Codes Solutions, a renowned provider of digital exchanges in multiple countries, the RGX platform guarantees the safe storage of user data on Cambodian servers provided by Ezecom, the leading primary fiber optic and internet service provider in Cambodia.

The launch of RGX was conducted at a grand event held at Hotel Cambodiana, with Sou Socheat, the Delegate of the Royal Government and Director General of SERC, and Kith Meng, Chairman and CEO of Royal Group, leading the inauguration. In his opening remarks, Kith Meng emphasized RGX’s vision to be a catalyst for change, aiming to promote financial inclusion and empower all members of the community to seize the opportunities offered by the digital economy.

Recognizing the significance of the RGX Trading Platform, Sou Socheat highlighted the advancements in financial technology within Cambodia’s securities sector. He commended SERC’s commitment to promoting financial innovation, market integrity, and investor protection through collaboration with the private sector. Sou Socheat expressed confidence that RGX would meet the demands of digital investors interested in blockchain technology.

Thomas Schings, Senior Manager of the Royal Group, unveiled the exchange’s future plans during the launch, which include introducing RGX Token as the next stage of development. He also highlighted the intention to tokenize various assets, such as real estate, enabling their digitization and facilitation of trading on securities platforms.

To ensure compliance with international Anti-Money Laundering (AML) laws and regulations, RGX has implemented cutting-edge transaction monitoring and know-your-customer (KYC) processes provided by Chainanalysis, a global leader in the sector. Thomas emphasized the importance of customer-centric support and announced a collaboration with Zendesk, another renowned player in customer support services, to streamline user assistance.

Speaking with Khmer Times, Thomas explained the straightforward registration and KYC process for subscribing to RGX services, promising a maximum processing time of two days. Interested participants can complete registration conveniently online via the platform’s website, www.rgxtrade.com.

RGX, in its press release, emphasized its leading position in Cambodia’s digital economy through its utilization of state-of-the-art technology and strategic industry partnerships. The exchange envisions playing a pivotal role in shaping the country’s digital economy, promoting financial inclusion and technological advancement.

Following the launch event, a New Year Lunch was held, attended by prominent business leaders from various sectors, showcasing the strong support and enthusiasm surrounding Cambodia’s foray into the digital assets exchange market.

With the establishment of RGX, Cambodia is poised to thrive in the digital era, with aspirations to become a hub for digital finance and innovation in the region. The exchange’s presence amplifies the country’s commitment to embracing technological advancements and fostering an inclusive financial landscape.

Source: Khmer Times

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