Singapore, Wednesday, May 22, 2024 – First Answer, the Middle East subsidiary of Liminal, received Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM) on May 13, 2024, marking a significant advancement for the company. 1
Prior to the regulatory approval in Abu Dhabi, the institutional digital assets custody platform Liminal obtained the IPA in the last quarter of 2023, aiming at the firm’s expansion into the Middle East and providing inclusive custody services.
“Automated transaction and balance workflows, robust firewall monitoring, multi-signature wallets, easy reporting, and succession planning,” are among the updated features to encourage institutions seeking to venture into the safe digital asset space. 1
The rapid adoption of digital assets by Middle Eastern communities paves the way for Liminal to embark on operations in Abu Dhabi, fostering a safe environment for all the “institutions, hedge funds, venture capitalists, and professional clients.” 1
The insecurity of blockchain-based start-up firms and institutions working on the platform would be secured by this regulated custodian certified with FSP.
The FSP license would accelerate the ignition of Liminal with the engagement of a diversified client base of exchanges, asset managers, neo-banks, and investment firms.
Further, the reliability and standard framework of Liminal would be enhanced with the FSP license; expect the Liminal team.
The FSP license would support future-proofing the business to meet the upcoming requirements.
- Liminal Custody: https://www.liminalcustody.com/blog/liminal-secures-fsp-license-from-fsra-in-adgm/[↩][↩][↩]
