Liminal Custody Secures Key ADGM FSP License and Strengthens Leadership in Digital Asset Custody

Press releases are sponsored content and are not part of Finbold’s editorial content. Please contact us for a full disclaimer. Crypto assets/products can be very risky. Never invest unless you are willing to lose all the money you invest.

Abu Dhabi, Abu Dhabi, May 14, 2024, Chainwire

Liminal Custody, a leading provider of digital asset custody and portfolio infrastructure solutions, today announced a milestone: the acquisition of Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) . This prestigious license is an important milestone in Liminal’s journey and reinforces its commitment to regulatory compliance and innovation within the fast-growing digital assets space.

Obtaining the FSP positions Liminal as a trusted partner for institutions seeking secure and compliant solutions to protect their valuable digital assets. Notably, the license gives Liminal the ability to operate as a regulated custodian in the Middle East, a fast-growing financial center. This expansion expands Liminal’s reach and allows it to serve a broader range of customers seeking best-in-class digital asset custody solutions.

Building trust through regulatory compliance

Mahin Gupta, founder of Liminal Custody, expressed his satisfaction with the achievement and said: “We are honored to receive the ADGM FSP license. This achievement represents the culmination of significant efforts on behalf of our entire team, all committed to maintaining the highest regulatory standards. Building trust within the rapidly evolving digital asset industry is a core tenet of our mission. The ADGM FSP license serves as a powerful validation of our commitment to compliance. We are confident that this achievement will further enable us to deliver best-in-class custody solutions to our customers, ensuring the continued security and integrity of their digital asset holdings.”

The symbiosis of compliance and innovation

The digital asset industry is experiencing exponential growth, with a corresponding demand for regulatory clarity to promote long-term stability and mainstream adoption. Liminal believes that a robust regulatory framework, coupled with continuous innovation, is the cornerstone for building a secure and thriving digital asset ecosystem. By adhering to strict regulations, Liminal ensures the safety and security of customers’ assets, while its relentless commitment to innovation enables it to develop cutting-edge solutions that meet the changing needs of the digital asset landscape. This two-pronged approach – prioritizing both regulatory compliance and technological advancements – positions Liminal as a leader in digital asset custody.

Commenting on Liminal achievements: Arvind Ramamurthy, Head of Market Development at ADGM, said: We congratulate Liminal on completing the licensing process and receiving the required Financial Services Permission (FSP) from ADGM’s FSRA. Liminal’s focus on regulatory compliance and innovative digital asset solutions aligns with ADGM’s vision of fostering a dynamic and trusted financial ecosystem that prioritizes maintaining the highest standards of security and innovation. We look forward to witnessing Liminal’s contribution to the growth of the digital asset industry in Abu Dhabi and beyond.”

Amir Tabch, CEO of Liminal Custody Middle East and Senior Executive Officer of the Category 3C ADGM regulated entity First Answer Middle East Limited, commented: “Achieving the ADGM FSP license is a clear indicator of Liminal’s strong commitment to compliance and innovation. This achievement not only positions us at the forefront of digital asset custody, but also signals our central role in its future evolution. By valuing regulatory compliance and technological advancements equally, we want to give institutions the confidence to explore the digital asset world and tap into its vast, transformative potential. This milestone is a springboard for Liminal’s continued growth and an important contribution to the maturity of the digital assets industry.”

About liminal custody

Liminal is a compliant and insured digital asset custody and wallet infrastructure provider providing both MPC and multi-sig wallets. Launched in April 2021, Liminal is a CCSS Level 3, SOC Type 2 and ISO 27001 & 27701 certified organization. Based in Singapore, Liminal has operations across APAC MENA and Europe, along with offices in Singapore, India and the UAE.

Liminal is proud to support businesses with their qualified and insured digital asset custody platform, which enables stress-free custody of digital assets for institutions. Liminal also offers an advanced wallet infrastructure platform that is secure, compliant, and automated, and comes with a plug-and-play architecture for faster onboarding of developers, business partners, and government agencies.

About Abu Dhabi Global Market (ADGM)

The Abu Dhabi Global Market (ADGM), an international financial center (IFC) based in Abu Dhabi, the capital of the United Arab Emirates, opened on October 21, 2015. Established by Federal Decree of the UAE as a comprehensive financial center. ADGM strengthens Abu Dhabi’s status as a global trade and business center. It serves as a strategic link between the fast-growing economies of the Middle East, Africa and South Asia and the rest of the world.

ADGM’s strategy leverages Abu Dhabi’s key strengths in areas such as private banking, wealth management, asset management, derivatives and commodities trading, financial innovation, sustainability and more. It consists of four independent authorities: the ADGM Authority, ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority. As IFC, ADGM controls the entire 114 hectares (1.14 square kilometers) of Al Maryah Island, a designated financial free zone.

Contact

Sr. Manager – PR & Communications
Akansha Sharma
Liminal detention
(email protected)