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Liminal X PAXO

| November 17, 2023

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At Liminal, we are absolutely thrilled to announce that we have welcomed PAXO from India as one of our newest clients! We are dedicated to creating a reliable and impenetrable platform for protecting digital assets, and with this latest development, we are making strides in the APAC and MENA regions.

In this blog, we want to share the story of how we came to work with PAXO and the challenges we overcame to build a wallet infrastructure that is both ultra-secure and highly efficient. From the moment we first began collaborating, we knew that together, we could create something truly special. We are excited to see what the future holds for this partnership and the impact it will have on the digital asset protection industry.

Who is PAXO?

PAXO is a decentralised protocol that allows users to invest in digital assets through multi-pool borrowing, similar to taking out a loan to purchase a property. With this protocol, users can borrow funds to invest in a cryptocurrency portfolio or other digital assets, which are then secured by a smart contract until the loan is repaid. This opens up new investment opportunities in the world of decentralised finance (DeFi).

Unlock the potential of digital assets for your institution

With PAXO, users can borrow up to five times their capital to invest in a wide range of digital assets, including cryptocurrencies, non-fungible tokens (NFTs), and even virtual real estate in the “metaverse.” The protocol is permissionless and trustless, meaning that anyone can use it without undergoing a KYC process or credit check. Additionally, PAXO is audited and uses advanced security measures to protect lenders’ funds.

What role does Liminal play in supporting this innovative protocol?

As a leading player in the credit space, PAXO has a significant volume of digital assets in its custody that are used to provide loans. As the popularity of crypto-based credit has increased, so has the volume of transactions handled by PAXO. This has led the company to seek ways to scale its operational and technical capabilities, particularly in terms of managing user deposits and withdrawals.

This is where Liminal entered with our Smart Cold Wallets to handle high volumes of transactions, support multiple cryptocurrencies, and provide the necessary security controls to protect against theft or loss. In addition to providing secure storage for digital assets, Liminal’s solution also streamlines the process of managing transactions in and out of cold wallets. This makes it easier and faster for PAXO to handle high volumes of transactions with confirmation guarantees, allowing the company to focus on growing and expanding its services in the DeFi space.

Secure and manage your digital assets with Liminal

Conclusion

Together, we have overcome the challenges of building a robust and secure cold wallet infrastructure and let’s also hear what the Head of Tech, Neeraj Bhatt, at PAXO have to say-

“Security of funds and tokens is critical for us as an under-collateralised investment loan protocol. Liminal, as an already established platform supporting various blockchains like Polygon in its ecosystem, will help us solve our problems with its suite of services. Liminal’s multisig nature and hardware wallet integration meet all our requirements.”

With this partnership, we are excited to continue supporting PAXO as they grow and expand its services. We look forward to seeing the impact of this partnership on the digital asset protection industry and are eager to continue exploring new opportunities in the APAC and MENA regions.

Learn more about Liminal here.

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