New crypto platform seeks to expand in the UAE

New crypto platform seeks to expand in the UAE

Liminal has assets worth over $550m under protection

Mahin Gupta, founder of Liminal. — Supplied photo

Published: Wed 17 May 2023, 2:11 PM

Liminal, a premier wallet infrastructure & custody solutions platform, has applied for a licence at the Abu Dhabi Global Market (ADGM) to begin its operations in the UAE.

The two-year-old firm recently announced ing that it has processed transactions worth $5.6 billion on its platform, with over $550 million worth of assets under protection. Despite the digital assets industry experiencing a downturn, Liminal has grown its customer base annually by 178 per cent CAGR and gross revenue from customers at 73.5 per cent CAGR annually

Mahin Gupta, founder of Liminal, remained confident about the cryptocurrency sector despite all the bad press surrounding FTX and the bloodbath in digital assets last year. “If there is a bad actor inside an ecosystem, they got rooted out, that’s not a bad thing. So I think after FTX what has happened is everywhere you are seeing a clear cut direction coming on the digital asset ecosystem,” Gupta told Khaleej Times in an interview.

Gupta believes that over time, regualtion will become more uniform across the globe. “If you see in a 10-year horizon , then I think