New Delhi, May 23, 2024: Liminal Custody, a Singapore-based digital asset custody and wallet infrastructure platform, today announced a landmark achievement – the registration of its Indian entity ‘First Answer India Technologies Private Limited’ with the Financial Intelligence Unit (FIU) of India. As the first digital asset custodian to be registered with the FIU, this event marks a significant milestone in Liminal's unwavering commitment to providing institutions with a robust, secure, and fully compliant wallet infrastructure platform & insured custody services for managing digital assets.
The FIU registration empowers Liminal Custody to operate seamlessly within India's established regulatory framework to combat money laundering and terrorist financing activities. This achievement strengthens its position as a trusted partner for institutions seeking to confidently navigate the ever-expanding digital asset landscape. Financial Intelligence Unit - India (FIU-IND) is the central, national agency responsible for receiving, processing, analysing and disseminating information relating to suspicious financial transactions to enforcement agencies and foreign FIUs. Liminal Custody also actively manages seized digital assets for the Central Bureau of Investigation, India’s premiere investigation agency.
“We have been working closely with many regulatory agencies, including the FIU in India to build a cohesive framework that can help mitigate all the risks around digital assets for both - businesses as well as end users. We are incredibly proud to receive FIU registration,” exclaimed Manhar Garegrat, Country Head, India & Global Partnerships at Liminal Custody.
“This achievement underscores our firm determination to foster trust and transparency within the digital asset industry. The FIU registration significantly enhances our ability to serve institutional clients across India, providing them with the peace of mind and regulatory compliance they deserve.” he added
FIU Registration Strengthens Liminal Custody's Position as a Trusted Partner
Liminal Custody stands apart as a pioneering digital asset custody and wallet infrastructure platform meticulously designed to cater to the specific requirements of institutions. The company's cutting-edge platform offers a comprehensive solution that is not only secure and scalable but also adheres to the highest regulatory standards. This empowers institutions to confidently store, track, and transfer their digital assets with unparalleled ease and efficiency.
Propelled by Innovation and Backed by Industry Leaders
Liminal Custody’s steadfast commitment to innovation has positioned it as a frontrunner in the digital asset custody arena. The company boasts a team of seasoned professionals with unparalleled expertise in the crypto ecosystem, ensuring the platform remains at the forefront of technological advancements. Liminal Custody's dedication has garnered the trust and support of leading investors in the industry, including Elevation Capital, LD Capital, CoinDCX, Hashed, Better Capital, Cadenza Ventures, Nexus Venture Partners, and Woodstock Fund. This robust backing fuels Liminal Custody's continuous development and expansion.
A Brighter Future for Digital Assets in India
With its FIU registration, Liminal Custody paves the way for a future where Indian institutions can embrace the immense potential of digital assets with confidence. By providing a secure, compliant, and user-friendly platform, Liminal Custody empowers institutions to actively participate in the digital asset revolution while adhering to the highest regulatory standards.
About Liminal Custody:
Liminal Custody is a compliant and insured digital asset custody and wallet infrastructure provider. Launched in April 2021, Liminal Custody is a CCSS Level 3, SOC Type 2 and ISO 27001 & 27701 certified organisation. Based in Singapore, Liminal Custody has operations spread across APAC MENA and Europe, along with offices in Singapore, India and UAE. Presently the company has received FSP licence from FSRA in ADGM and has initial approval from VARA. Liminal Custody takes pride in supporting businesses with its qualified and insured digital asset custody platform that enables stress-free safekeeping of digital assets for institutions. It also provides a cutting-edge wallet infrastructure platform that is secure, compliant and automated and comes with a plug-and-play architecture for faster onboarding of developers, business partners and government agencies.
