The strategic partnership will propel Liminal’s further expansion in the Middle East.
Dubai, January 18, 2023: Liminal, the fastest-growing digital asset custody and wallet infrastructure provider, is excited to announce a strategic partnership with Dubai-based Encryptus, a pioneer in providing comprehensive fiat off-ramp solutions. This collaboration aims to transform the digital asset space by offering a compliant and consolidated pathway for institutions to convert crypto to local currencies seamlessly.
The partnership aligns seamlessly with both companies’ goals. Liminal’s expertise in secure custody solutions, supporting over 50 businesses and 20+ chains, perfectly complements Encryptus’s robust crypto-to-fiat off-ramp capabilities. This collaboration will enable Liminal users to seamlessly convert their digital asset treasury into fiat currencies, facilitating business payments in 54 countries and individual payments in 80+ countries to bank wires and mobile wallets (e-wallets).
In 2023, Liminal announced the grant of an In-Principle Approval (IPA) by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a custody provider for virtual assets. This partnership can be considered a step forward in expanding its base in the Middle East region.
This collaboration is poised to yield several key benefits:
- Enhanced Clientele Access for Encryptus: By partnering with Liminal, Encryptus gains access to a diverse client base seeking secure and compliant crypto-to-fiat solutions. This expands their market reach and allows them to cater to the specific needs of Liminal’s clients.
- Expanded Business Opportunities for Liminal: Liminal can now offer extended service to its existing clients by integrating Encryptus’s off-ramp solutions, enabling direct crypto-to-fiat transfer right from their Vaults app.
- Simplifying Crypto Transactions: By simplifying complex compliance challenges and streamlining digital to fiat asset conversions, this collaboration makes crypto a more accessible and user-friendly asset for businesses worldwide in a more regulated and compliant way.
Manhar Garegrat, Country Head India & Global Partnerships at Liminal, said, “We are delighted to partner with Encryptus, a company that shares our commitment to security, compliance, and innovation. This collaboration will undoubtedly enhance our ability to provide cutting-edge solutions to our clients globally.”
Shantnoo Saxsena, CEO at Encryptus, said, “The partnership with Liminal marks a strategic move towards offering a comprehensive fiat off-ramp solution to Liminal’s customers. Encryptus is committed to empowering their partners to offer crypto <> fiat services in a secure and compliant way. We are really excited to be a part of Liminal’s ecosystem.”
This strategic alliance signifies a major leap forward in bridging the gap between traditional and crypto finance. Liminal and Encryptus are committed to revolutionizing the industry by delivering innovative solutions that meet the evolving needs of the digital asset landscape. By joining forces, they pave the way for a future where crypto becomes a readily accessible and valuable tool for businesses worldwide.
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