Liminal, a Custody Provider, Expands to Middle East with Approval in Abu Dhabi

Liminal’s Expansion Milestone in Abu Dhabi

Liminal, a Singapore-based custody services provider, has achieved a significant milestone in its global expansion journey with regulatory approval in Abu Dhabi. The company’s subsidiary, First Answer Middle East, received the first Financial Services Permission (FSP) from the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA), marking a pivotal moment in its strategic expansion into the Middle East region.

Liminal’s Strategic Vision

With the digital assets market booming, Liminal is looking beyond the Asia market to establish a solid presence in key regions. The company has strategically positioned itself to navigate the complex regulatory dynamics of markets across the Asia Pacific (APAC) and the Middle East and North Africa (MENA) regions.

Proactive Regulatory Initiatives

Two years ago, under the strategic guidance of Manan Vora, Liminal’s Senior Vice President of Strategy and Business Operations, the company embarked on an initiative to secure regulatory licenses in strategic markets across APAC and EMEA. This proactive approach has enabled Liminal to expand its technology-driven solutions into regulatory victories, focusing on enhancing its presence in Europe and Taiwan.

Regulatory Success and Compliance

Liminal has secured initial approvals for its Dubai entity, First Answer Custody FZE, from the emirate’s Virtual Asset Regulatory Authority (VARA). The company has also been proactive in Singapore, adapting to new licensing requirements and applying for a license from the Monetary Authority of Singapore (MAS).

India’s Crypto Landscape

Liminal’s Indian subsidiary, First Answer India Technologies, has been registered as a reporting entity, becoming the first digital asset custodian registered with India’s Financial Intelligence Unit (FIU). The regulatory landscape in India is evolving, with the government endorsing self-regulation among crypto players, promoting innovation and allowing exchanges to operate.