Liminal secures FSP license from FSRA in ADGM   Read more

Liminal X Magik Labs

| November 17, 2023

Share this article

As our company continues to grow and thrive, we are thrilled to announce that we are expanding our reach in the Middle East and North Africa (MENA) region. This is a significant step forward for us as we work to strengthen our market presence and reach new heights of success.

And we couldn’t be more excited to share that we have recently onboarded a new client from Dubai, “Magik Labs.” This partnership is a major milestone for us, and we are eager to share more about this incredible company and the services we provide to them.

So, without further ado, let’s dive into the details!

Unlock the potential of digital assets for your institution

What is Magik Labs?

Magik Labs is developing a web3 payments exchange that will link Dapps and payment providers. They seek to provide a seamless payments UX for web3 Dapps while placing a strong emphasis on providing efficient and robust infrastructure. In addition to allowing users to easily add funds from various sources, including credit cards, exchanges, and other wallets and chains- Magik’s intelligent routing technology ensures that users can deposit funds into their Dapp most efficiently and cost-effectively possible, no matter what chain they are on.

How does Liminal enhance the capabilities of this payment gateway?

Magik Labs was determined to develop a range of transit payment wallets that would enable their users to easily make payments and receive them in the form of their desired tokens or NFTs. To achieve this goal, they needed a solution that would allow them to seamlessly connect to DEX aggregators, OTC desks, and trading platforms.

That’s where our MPC Hot Wallets came in. With the ability to generate transit wallet addresses and automate transaction flow, these hot wallets were exactly what Magik Labs needed to bring their vision to life. Thanks to their versatility and efficiency, our MPC Hot Wallets are playing a crucial role in helping Magik Labs achieve their goals and provide an unparalleled payment experience for their users.

Secure and manage your digital assets with Liminal

Conclusion

Magik Labs is a dynamic and innovative company that is making waves in the tech industry. Their cutting-edge solutions and products have garnered a lot of attention, and we are honoured to have the opportunity to work with them.

On this, the co-founder of MagikLabs, Himanshu Bamoria, said, “Being a payment gateway for Web3 dApps, we wish to create a series of transit payment wallets to receive payments from our users. These payments will further be converted to desired tokens or NFTs via connectivity to other DEX aggregators, OTC desks or trading platforms. Hence, MPC hot wallets can be extremely beneficial for our business as it can provide desired transit wallet addresses and also provide automated transaction flows. We liked Liminal’s smart automation, especially for gas fees when users deposit in US dollar tokens (USDT), which is extremely important to us as a payment gateway.”

Our team is dedicated to helping Magik Labs succeed and reach its full potential. We are confident that our partnership with Magik Labs will be a fruitful and rewarding one, and we can’t wait to see what the future holds for both of our companies. Stay tuned for updates on this exciting collaboration!

Learn more about Liminal here.

Remember to keep yourself updated on our blog and social media channels.

More on Crypto

Liminal Custody received initial approval for a VASP license from Dubai’s VARA, paving the way for secure institutional custody services. Learn more. ……
May 27, 2024
As we move toward standardized and regulated usage of digital assets, it is remarkable to see more jurisdictions develop improvised versions of compliance with laws to help individuals and institutions stay safe and resilient. ……
May 23, 2024

Find out what is the Ideal Custody Solution for you