Torum Technology Sdn. Bhd.

Torum Technology Sdn. Bhd., operating as Torum, is a Malaysian financial technology company established in 2018 by co-founders Yi Feng Go (CEO) and Jayson Tan (CMO). The company has positioned itself within the burgeoning SocialFi (Social Finance) sector, creating an integrated ecosystem specifically for cryptocurrency and Web3 users. The founders' journey began in 2017 when they identified a critical need for a unified platform to combat misinformation and connect the fragmented crypto community. This led to the creation of Torum, a name derived from combining "Tokenized" and "Forum," which launched in July 2020.

The firm's core offering is a social media platform that serves as the backbone for a wider ecosystem, integrating decentralized finance (DeFi) and non-fungible token (NFT) functionalities. This multi-faceted approach targets cryptocurrency enthusiasts, traders, developers, and projects, providing a centralized hub for communication, networking, and asset management. The business model is designed to be scalable, generating revenue through its native utility token, XTM. The XTM token, a BEP-20 token on the Binance Smart Chain, is central to all transactions within the ecosystem. Users can utilize XTM for a variety of purposes, including tipping other users, boosting content visibility, purchasing NFTs, and accessing DeFi services like staking and liquidity farming. This creates a self-sustaining economic loop where platform activity drives token utility and value.

Torum's platform features are extensive, encompassing a crypto-centric social network, a news section for project updates, an NFT marketplace, and Torum Finance, its DeFi portal. A key differentiator is the gamification layer, which rewards user engagement—such as posting quality content and interacting with others—with XTM tokens. The platform also includes an NFT launchpad and is developing features like customizable Avatar NFTs for the metaverse. A significant milestone was achieved in February 2024, when Torum received conditional approval to operate as a regulated Digital Asset Exchange (DAX) and Digital Broker (DB) in Malaysia, allowing it to offer regulated trading services. The company has successfully raised $1.45 million in funding from notable investors, including KuCoin Labs, Huobi Ventures, and AU21 Capital, which has supported its expansion into the DeFi and NFT sectors.

Keywords: SocialFi, cryptocurrency social media, Web3 ecosystem, Torum, XTM token, DeFi staking, NFT marketplace, crypto community, Yi Feng Go, Jayson Tan, Binance Smart Chain, digital asset exchange, token utility, gamification, crypto rewards, metaverse avatars, liquidity farming, crypto project listing, BEP-20, Social Finance, Malaysian fintech, KuCoin Labs, Huobi Ventures