Abstract: The Dzyaloshinskii-Moriya interaction (DMI) is known to play a central role in stabilizing chiral spin textures such as skyrmions and domain walls (DWs). Electrical manipulation of DW and skyrmion motion offers possibilities for next-generation, scalable and energy-efficient spintronic devices. However, achieving the full potential of these nanoscale devices requires overcoming several challenges, including reliable electrical write and read techniques for these magnetic objects, and addressing pinning and Joule-heating concerns. Here, through micromagnetic simulations and analytical modeling, we show that DMI can directly induce magnetization switching of a nanomagnet with perpendicular magnetic anisotropy (PMA). We find that the switching is driven by the interplay between the DMI-induced magnetic frustration and the PMA. By introducing magnetic tunnel junctions to electrically access and control the magnetization direction of the PMA nanomagnet, we first show the potential of this concept to enable high-density fieldfree spin-orbit torque magnetic random-access memory. Ultimately, we demonstrate that it offers a way of transferring and processing spin information for logic operation without relying on current-driven DW or skyrmion motion.