Liminal Strengthens Oversight with Ernst & Young
SINGAPORE / — Liminal, a prominent digital asset infrastructure company, has announced a strategic collaboration with Ernst & Young Advisory Pte. Ltd. (EY). This engagement will unfold over three years, focusing on enhancing Liminal's commitment to compliance, governance, and operational resilience within its infrastructure designed for financial institutions, enterprises, and digital asset companies worldwide.
Focused Audit Engagement to Enhance Controls
The partnership with EY is aimed at fortifying Liminal's internal control environment, implementing robust risk management frameworks, and establishing governance structures that meet regulatory expectations as well as industry best practices. Such measures are vital to establishing trust and security in the rapidly evolving digital assets landscape.
Expert Insights from EY Leadership
Radish Singh, EY's Financial Services Risk Consulting Leader for the ASEAN region, expressed the importance of this initiative, stating, "Over the next three years, EY will support Liminal in its internal audit efforts, focusing on tightening processes, controls, and governance frameworks. For digital asset platforms, strong internal audit systems are increasingly essential, especially in regulated and cross-border settings."
About Liminal's Mission
Liminal, headquartered in Singapore, is recognized as a leading provider of blockchain wallet infrastructure and digital asset management solutions. Since its inception, the company has prioritized transparency and reliability in handling digital asset custody, as reflected in its engagement with EY.
Commitment to Compliance and Risk Management
Mansi Mehta, Global Head of Risk, Forensics, and Internal Audit at Liminal, remarked on the collaboration, saying, "Engaging with EY enables us to closely examine our controls and processes. This scrutiny is essential to meet the high standards demanded by financial institutions, regulators, and enterprise clients alike." The commitment to compliance is particularly significant for entities dealing with digital assets, illustrating the need for stringent oversight.
Achievements and Market Presence
Founded in 2021 by digital asset pioneer Mahin Gupta, Liminal has rapidly made its mark in the market. The company has managed transactions exceeding $80 billion and secured over $800 million in assets for more than 80 businesses across various regions. Through its 'plug-and-play' architecture, Liminal facilitates intricate digital asset operations, including institutional custody, staking, and automated treasury management.
Expanding into New Markets
As part of its growth strategy, Liminal is keen on broadening its reach into emerging markets and compliant jurisdictions. The internal audit program represents a pivotal step toward achieving wider certification and assurance goals, further solidifying Liminal's reputation as a trusted player in the digital asset sphere.
About Liminal Custody
Liminal Custody specializes in digital asset management infrastructure, boasting certifications such as SOC 2 Type II and ISO 27001 & 27701. It offers secure wallet infrastructure and custody-technology solutions designed for institutions across the digital asset spectrum. Liminal’s global engagement aims to support clients in securely scaling their digital asset operations while adhering to regulatory standards.
Contact Information
For further inquiries, individuals can reach out to the team at Liminal Custody for insights into their offerings, operations, and the new engagement with EY.
Frequently Asked Questions
What is the purpose of Liminal's engagement with EY?
The engagement aims to enhance internal controls, risk management, and governance structures.
How long will the partnership with EY last?
The collaboration is set for a duration of three years.
What is Liminal's primary focus?
Liminal focuses on delivering high-security digital asset management solutions tailored for Web3 institutions.
What type of clients does Liminal serve?
Liminal serves a range of clients, including financial institutions and enterprises dealing with digital assets.
What was Liminal's significant achievement since its founding?
Since 2021, Liminal has processed transactions exceeding $80 billion and secured over $800 million in assets for various businesses.
