Liminal’s Triumph in Digital Asset Custody with In-Principle Approval

Abu Dhabi Global Market (ADGM) Grants In-Principle Approval

Liminal, a leading digital asset custody and wallet infrastructure provider, has achieved a significant milestone in becoming a trusted custodian for virtual assets. The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has granted Liminal an In-Principle Approval (IPA) to operate as a custody provider for virtual assets within the ADGM jurisdiction. While this IPA is not the final license, it represents a pivotal step in Liminal’s journey.

Strengthening the Web3 Ecosystem

Abu Dhabi has earned a reputation as a hub for innovation and growth in the Web3 ecosystem thanks to its dedication to precise and comprehensive regulations. Liminal strategically pursued this approval by recognising the increasing demand for secure custody services in the Middle East and North Africa (MENA) region. Receiving the Financial Services Permission (FSP) from FSRA will empower Liminal to extend its custodial services, benefiting both ADGM and the broader MENA region.

High Praise from Industry Leaders

Manan Vora, Senior VP of Strategy and Business Operations at Liminal expressed enthusiasm for the IPA, highlighting its significance in providing institutional-grade custody services for the digital asset industry. Liminal’s commitment to security and innovation in the crypto custody space has driven its success.

Arvind Ramamurthy, Chief of Market Development at ADGM, also congratulated Liminal. He acknowledged Liminal’s capabilities and dedication, emphasising their alignment with ADGM’s goals. Together, they aim to advance the digital asset space in Abu Dhabi and beyond.

A Commitment to Excellence

Liminal’s commitment to excellence extends beyond regulatory approvals. The company has built a robust infrastructure prioritising security, compliance, and operational excellence. Their advanced custody platform leverages automation to simplify the safekeeping of virtual assets. Additionally, they implement stringent security protocols, comprehensive risk management measures, and thorough audit procedures to maintain the highest level of protection for client assets.

Looking Ahead

Liminal’s journey towards becoming a premier custodian for virtual assets continues, with the FSP as the next crucial milestone. Once secured, Liminal will play a vital role in the Web3 ecosystem in the UAE, expanding its product and service offerings for the MENA region. Clients can expect state-of-the-art security protocols, multi-signature authentication, cold storage facilities, and round-the-clock customer support to ensure the utmost protection of their digital assets.

To further enhance its commitment to regulated and compliant custody solutions in the Middle East, Liminal has appointed Dr. Bhaskar Dasgupta, a seasoned Business Strategist, to its Board in Abu Dhabi. Dr Dasgupta’s expertise and experience will contribute to Liminal’s mission to elevate the digital asset landscape.

In conclusion, Liminal’s in-principle approval from FSRA marks a significant leap forward in digital asset custody, underlining its dedication to security, innovation, and regulatory compliance. As they continue to meet stringent requirements and expand their services, Liminal is set to leave a lasting impact on the digital asset industry in the MENA region and beyond.