New Crypto Platform Seeks to Expand in UAE – News

Liminal has more than $550 million in protected assets

Liminal founder Mahin Gupta. – Photos provided

Liminal, a leading wallet infrastructure and custody solutions platform, has applied for a license with the Abu Dhabi Global Market (ADGM) to begin operations in the UAE.

The two-year-old company recently announced that it has processed $5.6 billion worth of transactions on its platform and secured over $550 million worth of assets.Despite the downturn experienced by the digital asset industry, Liminal’s client base is growing at a CAGR of 178% per year and total client revenue is growing at a CAGR of 73.5% per year

Liminal founder Mahin Gupta remains confident in the cryptocurrency space despite all the negative press surrounding FTX and the carnage of digital assets last year. “If there are bad people in the ecosystem, they will be rooted out, which is not a bad thing. So I think everywhere after FTX, you can see a clear direction for the digital asset ecosystem,” Gupta told Khaleej in an interview Times.

Gupta believes regulation will become more uniform across the globe over time. “If you look over a 10-year period, then I think the regulatory imbalance between different regions will disappear. The innovation will be there, and people will use digital assets, whether as part of an investment or as part of the underlying technology ,”He said.

Despite the recent rally in cryptocurrencies, Gupta believes digital assets remain a risky investment. “I would say it’s a risky asset class, take more time to understand it and then make an investment decision,” he advises potential investors.

With the introduction of the Virtual Assets Regulatory Authority (Vara) in Dubai, ADGM has also introduced digital asset regulatory norms. Gupta believes that the UAE has a first-mover advantage in the field of digital asset regulation. “The regulators are very clear about what they want to do. They have a clear vision of how to think about the Metaverse, how they think about transactions, how they think about custody, and how they think about blockchain as a service and blockchain as a platform for other applications,” Gupta said explain.

According to Gupta, there are currently about 400 players in the digital asset space in the UAE. “I have no doubt that by the end of this year or next year that number will exceed 1,000, and you will see more and more people participating in the ecosystem,” Gupta said.