Liminal Custody Solutions Secures Initial Approval from VARA in Dubai
Liminal Custody Solutions, a leading digital asset custody and wallet infrastructure provider, has achieved a significant milestone in its Middle Eastern expansion with an Initial Approval from VARA (Virtual Asset Regulatory Authority) in Dubai. This regulatory green light paves the way for the company’s Dubai entity, First Answer Custody FZE, to begin operations as it works towards obtaining a full Virtual Asset Service Provider (VASP) License from VARA.
Amir Tabch, CEO of Liminal Custody Solutions Middle East, expressed the company’s commitment to meeting client needs while upholding strict regulatory standards. Tabch emphasized the shared goal of establishing Liminal as a trusted custodian for virtual assets in the UAE.
The approval from VARA holds particular significance in the region’s regulatory landscape. VARA, established in March 2022, is tasked with overseeing digital assets and related activities in Dubai, including Special Development Zones and Free Zones.
Upon receiving the VASP License, Liminal will deploy a team of industry experts and professionals to manage its custody operations in the Middle East. This team will implement rigorous compliance and security measures, comprehensive risk management protocols, and thorough audit procedures to ensure the protection of client assets.
Liminal’s reputation in the digital asset custody sector further solidifies its position as a trusted custodian. The Singapore-based firm, founded in April 2021, has already obtained prestigious certifications such as CCSS Level 3, SOC Type 2, and ISO 27001 & 27701.
With a presence in key financial centers across the Asia Pacific, MENA, and Europe, Liminal operates offices in Hong Kong, Singapore, India, and Abu Dhabi. The company offers tailored wallet infrastructure for self-custodial businesses and holds a TCSP license in Hong Kong, as well as in-principle approval for custody licensing from ADGM (Abu Dhabi Global Market) in Abu Dhabi. This strategic positioning underscores Liminal’s commitment to delivering secure and compliant custody solutions tailored to the diverse needs of its clientele.
In related news, Liminal recently unveiled its white-label crypto custody solution, further expanding its suite of offerings in the digital asset custody space.
