Liminal Custody Solutions, a digital asset custody and wallet infrastructure provider, has taken a significant stride forward in its Middle Eastern expansion with an Initial Approval from VARA (Virtual Asset Regulatory Authority) in Dubai.
This regulatory green light marks the commencement of operations for its Dubai entity, First Answer Custody FZE, as it progresses towards acquiring a full Virtual Asset Service Provider (VASP) License from VARA.
In a statement released today, Amir Tabch, CEO of Liminal Custody Solutions Middle East, emphasized the company’s dedication to meeting client needs while adhering to stringent regulatory standards. Tabch also highlighted the mutual goal of establishing Liminal as a trusted custodian for virtual assets within the UAE.
The significance of this achievement is underscored by the regulatory landscape in the region. Established in March 2022, VARA serves as the regulatory authority responsible for overseeing digital assets and related activities across Dubai, including Special Development Zones and Free Zones.
Upon securing the VASP License, Liminal will deploy a team of industry experts and seasoned professionals to oversee its custody operations in the Middle East. This team will implement robust compliance and security protocols, comprehensive risk management measures, and thorough audit procedures to ensure the safeguarding of client assets.
Liminal’s track record in the digital asset custody space further solidifies its position as a trusted custodian. The Singapore-based firm, founded in April 2021, has already garnered prestigious certifications such as CCSS Level 3, SOC Type 2, and ISO 27001 & 27701.
With operations spanning across the Asia Pacific, MENA, and Europe, Liminal boasts offices in key financial centers including Hong Kong, Singapore, India, and Abu Dhabi.
Notably, Liminal offers tailored wallet infrastructure for self-custodial businesses and serves as a qualified custodian, holding a TCSP license in Hong Kong and in-principle approval for custody licensing from ADGM (Abu Dhabi Global Market) in Abu Dhabi. This strategic positioning underscores Liminal’s commitment to providing secure and compliant custody solutions tailored to the needs of its diverse clientele.
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