As a regulated custodian, offering formalised and monitored asset custody to institutions registered under a defined jurisdiction has become a pivotal point in pushing the envelope of virtual asset security.
We are actively pursuing accreditation from reputable regulatory bodies to penetrate the burgeoning markets in emerging jurisdictions. This strategic approach will establish Liminal as a credible and qualified custodian, enabling us to provide comprehensive custody and wallet infrastructure services to both regional institutions and enterprises seeking to develop their operations in these rapidly evolving markets.
A Step Towards FSP License
Moving to the most progressive state of Abu Dhabi with a vision of becoming a key digital asset custodian, we are stoked to announce that we have received an In-Principle Approval from the Financial Services Regulatory Authority(FSRA), a governing body in ADGM to establish progressive financial services environment.
This IPA marks a crucial milestone in our journey as we look to expand our custody services in the region of MENA and work closely with institutions to offer them our advanced suite of wallet infrastructure, white label solution, automation workflow, secure staking, compliance integrations and more.
Following the successful acquisition of our first custody license, TCSP, in Hong Kong, this impending second custody license marks a definite win for Liminal.
It firmly establishes our position as a disruptive force in the custody sector, demonstrating our commitment to addressing the most critical challenges institutions face in digital asset management, security, and scalability.
Navigating the Rigorous Licensing Process
Obtaining an FSP is a rigorous and complex process that involves extensive due diligence and adherence to stringent regulatory requirements.
The FSRA meticulously evaluates the applicant’s business model, risk management practices, operational capabilities, and compliance infrastructure. This comprehensive assessment ensures that only the most qualified and secure entities are granted the FSP, safeguarding the interests of investors and promoting the integrity of the digital asset ecosystem.
Advancing Liminal’s Regional Presence
Liminal’s path to securing the IPA was paved by a deep commitment to meeting all the FSRA’s exacting standards. We demonstrated unwavering dedication to operational excellence, robust risk management frameworks, and a comprehensive compliance program.
Our team of experts worked tirelessly to address every aspect of the FSRA’s requirements, ensuring that the platform met the highest international security, governance, and transparency standards.
The IPA is not merely a formality; it represents a testament to Liminal’s persistent commitment to providing institutional-grade custody services that meet the evolving needs of the digital asset industry.
With the IPA in hand, we are well-positioned to expand product offerings, establish strategic partnerships, and further solidify our position as a leading digital asset custody solutions provider.
by Liminal
