Abu Dhabi, Abu Dhabi, May 14, 2024, Chainwire
Liminal Guard, a leading provider of digital asset custody and wallet infrastructure solutions, today announced a landmark achievement: the acquisition of Financial Services Permission (FSP) from the Abu Dhabi Global Market ( ADGM) Financial Services Regulatory Authority (FSRA). This prestigious license marks an important milestone in Liminal's journey, cementing its commitment to regulatory compliance and innovation in the 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 rapidly growing financial hub. This expansion broadens Liminal's reach and allows it to serve a wider range of clients seeking the best digital asset custody solutions.
Building Trust Through Regulatory Compliance
Mahin Gupta, founder of Liminal Custodyexpressed its satisfaction with this accomplishment, stating: “We are honored to receive the ADGM FSP license. This achievement represents the culmination of significant efforts by our entire team, all dedicated to meeting the highest regulatory standards. Building Trust in the Digital Sector The rapidly evolving asset sector is a fundamental tenet of our mission. The ADGM FSP license is a powerful validation of our mission. commitment to respect. We are confident that this achievement will enable us to provide the best custody solutions to our clients, ensuring the continued security and integrity of their digital asset holdings.
The symbiosis between compliance and innovation
The digital assets sector is growing exponentially, with a corresponding demand for regulatory clarity to drive long-term stability and widespread adoption. Liminal believes that a strong regulatory framework, coupled with continuous innovation, is the cornerstone of building a secure and thriving digital asset ecosystem. By adhering to strict regulations, Liminal ensures the safety and security of its clients' assets, while its unwavering commitment to innovation enables it to develop cutting-edge solutions that meet the evolving needs of the digital asset landscape. This two-pronged approach – prioritizing both regulatory compliance and technological advancement – positions Liminal as a leader in the digital asset custody space.
Commenting on the Liminal production, Arvind Ramamurthy, Head of Market Development at ADGM, said: “We congratulate Liminal on completing its licensing process and receiving the required Financial Services Authorization (FSP) from ADGM's FSRA. Liminal's focus on regulatory compliance and solutions innovations in the digital assets space aligns with ADGM's vision of fostering a vibrant and trusted financial sector ecosystem that prioritizes meeting the highest standards of security and innovation. Liminal’s contribution to the growth of the digital assets sector in Abu Dhabi and beyond.
Amir Tabch, CEO of Liminal Custody Middle East and senior executive of ADGM Category 3C regulated entity First Answer Middle East Limited, said: “Obtaining the ADGM FSP license is a clear indicator of Liminal’s unwavering commitment to compliance and innovation. This success not only places us at the forefront of preservation of digital assets but also signals our central role in its future evolution. By placing as much importance on regulatory compliance as technological advancement, we aim to give institutions the confidence to explore the digital assets space, harnessing its vast transformative potential. This milestone provides a springboard for Liminal’s continued growth and a significant 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 that provides both MPC Wallets and multi-signature wallets. Launched in April 2021, Liminal is a CCSS Level 3, SOC Type 2 and ISO 27001 & 27701 certified organization. Liminal is headquartered in Singapore with operations spread across APAC, MENA and Europe, as well as offices in Singapore, in India and the United Arab Emirates.
Liminal is proud to support businesses with its qualified and assured digital asset custody platform, which allows institutions to maintain stress-free custody of their digital assets. Liminal also offers an advance wallet infrastructure secure, compliant, automated platform with plug-and-play architecture for faster onboarding for developers, business partners and government agencies.
About Abu Dhabi Global Market (ADGM)
The Abu Dhabi Global Market (ADGM), an international financial center (IFC) located in Abu Dhabi, the capital of the United Arab Emirates, opened on October 21, 2015. Established by a federal decree of the United Arab Emirates as global financial hub, ADGM strengthens Abu Dhabi’s stature as a global trade and commerce hub. It provides a strategic link between the growing economies of the Middle East, Africa, South Asia and the rest of the world.
ADGM's strategy leverages Abu Dhabi's core strengths in areas such as private banking, wealth management, asset management, derivatives and commodities trading, financial innovation, sustainability , etc. It comprises four independent authorities: the ADGM Authority, the ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority. As IFC, ADGM governs the entire 114 hectares (1.14 square kilometers) of Al Maryah Island, a designated financial free zone.
Senior Manager – PR and Communications
Akansha Sharma
Liminal Guard
(email protected)