Liminal Secures Regulatory Approval in Abu Dhabi for Custody Services

Liminal, a Singapore-based custody services provider, has achieved a significant milestone by obtaining regulatory approval in Abu Dhabi. The approval, granted to its subsidiary First Answer Middle East by the Abu Dhabi Global Market's Financial Services Regulatory Authority, allows the firm to offer custody services within the region.

Expanding Global Presence

This regulatory clearance in Abu Dhabi represents a crucial step in Liminal's international expansion strategy. Following in-principal approval received last year, this latest development solidifies the company's foothold in key markets.

Liminal has been actively seeking regulatory approvals across various jurisdictions. In addition to Abu Dhabi, its Dubai entity, First Answer Custody FZE, recently secured initial approval from the emirate's Virtual Asset Regulatory Authority. Meanwhile, its Indian subsidiary, First Answer India Technologies, has achieved registration as a reporting entity, making Liminal the first digital asset custodian registered with India's Financial Intelligence Unit. This achievement comes on the heels of Liminal's appointment by India's Central Bureau of Investigation to manage seized digital assets in November.

In Singapore, Liminal is already providing custody solutions and is in the process of transitioning to comply with new licensing requirements introduced in April. The company has informed the Monetary Authority of Singapore of its intention to apply for a license, ensuring compliance with evolving regulatory standards.

This latest regulatory approval in Abu Dhabi underscores Liminal's commitment to meeting regulatory requirements and expanding its presence in key global markets.

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