Liminal Custody Strengthens Leadership in Digital Asset Management by Securing Core ADGM FSP License

adminMay 14, 2024

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

Liminal Custody, a leading provider of digital asset management and wallet infrastructure solutions, today announced a milestone achievement: the acquisition of its Financial Services Permit (FSP) from the Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority (FSRA). This prestigious license is a significant milestone in Liminal’s journey and solidifies its commitment to compliance and innovation within the rapidly growing digital asset space.

Achieving FSP positions Liminal as a trusted partner for institutions seeking secure and compliant solutions to protect their valuable digital assets. Notably, this license gives Liminal the ability to operate as a regulated custodian within the fast-growing financial hub of the Middle East. This expansion expands Liminal’s reach and enables it to serve a wider range of customers looking for best-in-class digital asset storage solutions.

Building trust through compliance

Mahin Gupta, Founder of Liminal Custody, “We are honored to receive the ADGM FSP license. This achievement represents the culmination of significant efforts on behalf of our entire team dedicated 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 strong validation of our commitment to regulatory compliance. We are confident that this achievement will further strengthen our ability to provide our customers with best-in-class storage solutions and ensure the ongoing security and integrity of their digital asset holdings.”

Symbiosis of Compliance and Innovation

The digital asset industry is experiencing exponential growth, with demands for long-term stability and regulatory clarity to drive mainstream adoption. Liminal believes that a strong regulatory framework combined with continuous innovation is the cornerstone for building a secure and thriving digital asset ecosystem. Complying with stringent regulations allows Liminal to ensure the safety and security of its clients’ assets, while its unwavering commitment to innovation allows it to develop cutting-edge solutions that address the evolving needs of the digital asset environment. This two-pronged approach that prioritizes both regulatory compliance and technological advancement has established Liminal as a leader in digital asset custody.

To comment on marginal achievement: Arvind Ramamurthy, Head of Market Development at ADGM, said: ” Congratulations to Liminal on completing the licensing process and receiving the Essential Financial Services Permit (FSP) from ADGM’s FSRA. Liminal’s focus on regulatory compliance and innovative solutions in the digital asset space aligns with ADGM’s vision to foster a dynamic and trusted financial ecosystem that prioritizes 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 First Answer Middle East Limited, a Category 3C ADGM regulator, said: “Obtaining the ADGM FSP license is a clear indicator of Liminal’s unwavering commitment to compliance and innovation. This achievement not only puts us at the forefront of digital asset management, but also signifies our pivotal role in future developments. By weighing regulatory compliance and technological advancements equally, we aim to give institutions the confidence to explore the digital asset space and capitalize on its vast, innovative potential. This milestone is a stepping stone for Liminal’s continued growth and a significant contribution to the maturity of the digital asset industry.”

Temporary Custody Information

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

Liminal prides itself on supporting businesses with a qualified and insured digital asset custody platform that allows them to store their institutions’ digital assets safely and stress-free. Liminal also provides a state-of-the-art wallet infrastructure platform that is secure, compliant, and automated, with a plug-and-play architecture for faster onboarding of developers, business partners, and government agencies.

About Abu Dhabi Global Market (ADGM)

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 as a comprehensive financial center under UAE federal legislation, ADGM strengthens Abu Dhabi’s position as a global trade and business hub. 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 commodity trading, financial innovation, and sustainability. It is comprised of four independent bodies: the ADGM Authority, the ADGM Court, the Financial Services Regulator and the Registrar. As IFC, ADGM manages the entire 114 hectares (1.14 square kilometers) of Al Marya Island, which is designated as a financial free zone.