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Liminal Secures Regulatory Nod from ADGM: A Digital Custodian's Triumph

Digital asset custody and wallet infrastructure provider, received the In-Principle Approval from the FSRA
November 17, 2023

Liminal, a rapidly growing digital asset custody and wallet infrastructure provider, celebrates a significant milestone with the In-Principle Approval (IPA) granted by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This endorsement solidifies Liminal's commitment to elevating the standards of the digital asset industry while upholding stringent regulatory benchmarks.

This IPA, though not the final license, marks a pivotal moment for Liminal as it diligently works towards meeting FSRA's conditions to obtain the coveted Financial Services Permission (FSP). Positioned within the sophisticated regulatory landscape of Abu Dhabi, the IPA positions Liminal to extend its services as a trusted custodian for Virtual Assets, not only in the ADGM jurisdiction but throughout the broader MENA region.

In May of this year, Liminal achieved a significant milestone by obtaining the TCSP License from the Hong Kong Companies Registry, allowing it to provide regulated digital asset custodial services in Hong Kong. The recent IPA from ADGM further underscores Liminal's strategic positioning within the rapidly evolving fintech landscape of the Middle East, particularly in the UAE.

Manan Vora, Senior VP of Strategy & Business Operations at Liminal, expressed enthusiasm about the IPA, highlighting ADGM's role in fostering a secure environment for investors and Web3 enterprises. He emphasized Liminal's dedication to providing institutional-grade custody services, contributing to the growth of the emerging market.

Arvind Ramamurthy, Chief of Market Development at ADGM, extended congratulations to Liminal and anticipated witnessing its positive impact on the market. He emphasized the alignment of Liminal's capabilities and dedication with ADGM's goals in driving the growth of the digital asset space in Abu Dhabi and beyond.

To strengthen its commitment to delivering regulated and compliant custody solutions in the Middle East, Liminal welcomes Dr. Bhaskar Dasgupta, a Veteran Business Strategist, to its Board in Abu Dhabi. Dr. Dasgupta's appointment underscores Liminal's mission to elevate the digital asset landscape and follows rigorous screening procedures and audits.

Liminal's robust infrastructure prioritizes security, compliance, and operational excellence. With a dedication to staying at the forefront of innovation, the company consistently adheres to regulatory best practices, implementing strict security protocols and thorough audit procedures to ensure the highest level of protection for client assets.

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