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Liminal’s Integration with Tezos: The Broader Impacts on Institutional Movements and Custodial Infrastructure
In an episode of The DeFi Exchange, Michael Mendes, Head of DeFi Partnerships at Trilitech, interviewed Adam Parnell, Business Development Director for Americas and Europe at Liminal. Liminal is a wallet technology provider that supports Tezos and has a large customer base in Asia, with over 60% of all cryptocurrency in India flowing through their technology. Parnell discussed the importance of trust in the Web3 context and how Liminal’s CCSS level three certification helps build that trust. He also highlighted Liminal’s unique approach to custodial and noncustodial services, and their white labeling service. Parnell will be attending various conferences in Europe in the coming months.
By: XTZ News
14 September 2023
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In the bustling world of decentralized finance, few companies stand out with as much prominence as Liminal. As a custodial and non-custodial wallet technology provider, Liminal handles a vast range of assets, and its influence in Asia is undeniable. As of November 2022, this dynamic shifted even further when Liminal successfully integrated the Tezos blockchain into its infrastructure through the help of Tezos India.
In a recent episode of The DeFi Exchange, Michael Mendes, Head of DeFi Partnerships at Trilitech, sat down with Adam Parnell, Business Developer Director Europe and Americas at Liminal, to discuss Liminal’s approach to custodial infrastructure and broader institutional movements in the market.
From the onset, Adam Parnell clarified Liminal’s Tezos integration “So obviously here at Liminal we were keen to support Tezos, so the chain is integrated on our systems.” Adam explained. Liminal’s commitment to integrating Tezos is reflective of the blockchain’s burgeoning influence in the industry.
Highlighting Liminal’s unique position in the market, Adam added, “What makes us unique is we’re noncustodial and custodial.” Liminal’s dual nature aligns well with Tezos’ dynamic capabilities. He shared some staggering statistics on Liminal’s influence in Asia: “…supporting Tezos was a no-brainer. We absolutely had to have it. We have a very large customer base spread across Asia specifically, more than 60% of all cryptocurrency in India is flowing through our technology. Something close to 50% in Indonesia.” Such figures emphasize the importance of their recent integration with Tezos.
Michael then took the conversation to an analytical standpoint, pondering the future of institutional custody in a Web3 context compared to traditional markets. Adam pointed out the limitations of traditional market technology compared to the constantly evolving Web3 technology. Trust is a pivotal part of this new landscape. “All the way across that spectrum from the original customer through to the project, through to an organization like us, trust is a big part of it,” Adam emphasized.
The conversation pivoted to Liminal’s distinctive journey in the custodial realm. Originating as a noncustodial entity, Liminal seamlessly transitioned into the custodial space, driven by consistent demand from its users. “So if somebody wants to generate an account on Liminal… they just let us know whether they want it to be noncustodial or custodial,” said Adam, explaining the simplicity and ease of their system. “…One of the things that makes Liminal unique is we started life as a noncustodial. As we built up our user base, we were getting asked time and time again by our users, ‘hey, we want you to custody our assets for us,’ so it was a no-brainer. We decided to move into the custodial space and we have a custodial license now in Hong Kong, and we have another one coming through anytime now for Abu Dhabi and then Singapore after that. So we’re really focusing our custodial efforts on the Asian region where the bulk of our customers are.”
On the topic of white labeling and the complexities of the regulatory environment, Adam pointed out that Liminal offers a white-labeled service for organizations, allowing them to use Liminal’s top-tier technology, which is CCSS level three certified. This certification, which stands for cryptocurrency security standards, is a testament to Liminal’s dedication to safety and trustworthiness. It serves as a powerful tool for building trust, especially when dealing with people’s assets.
Finally, touching on the synergies between Liminal and Tezos, Adam said, “This is why I think Liminal is such a great matchup with Tezos because the projects that are building on Tezos, they just fit really, really nicely with, as you say, traveling on that journey together.But also about a third of our businesses are Web3 projects of all different shapes and sizes that are trying to achieve different things. And again, having support for Tezos for our users for those reasons are absolutely mandatory as well.”
He stressed the importance of understanding a project’s needs versus its wants and providing a solution that aligns with those needs. “You get a customer come knocking on the door saying, ‘hey, I want to buy a wallet.’ And actually, when you look at it a little bit deeper, it’s like, ‘Well, you want a wallet, but what you need is to really secure this asset flow from customers coming into your system to customers taking assets out of your system, and do it in a way that it’s scalable and it’s not operationally intensive‘.
In terms of Liminal’s presence in the global space, Adam mentioned several conferences where Liminal would be present, such as Token 2049 in Singapore. He also highlighted London’s Crypto Club Blacks as a regular hotspot for Web3 community networking.
As institutional movements and custodial infrastructure continue to evolve, collaborations like these are set to play a pivotal role in shaping the DeFi landscape. To find out more about the Liminal/Tezos collaboration visit the Liminal website here.
In an episode of The DeFi Exchange, Michael Mendes, Head of DeFi Partnerships at Trilitech, interviewed Adam Parnell, Business Development Director for Americas and Europe at Liminal. Liminal is a wallet technology provider that supports Tezos and has a large customer base in Asia, with over 60% of all cryptocurrency in India flowing through their technology. Parnell discussed the importance of trust in the Web3 context and how Liminal’s CCSS level three certification helps build that trust. He also highlighted Liminal’s unique approach to custodial and noncustodial services, and their white labeling service. Parnell will be attending various conferences in Europe in the coming months.
India’s leading blockchain adoption studio, has announced that Liminal, a leading digital wallet operations infrastructure platform, has successfully completed integration with the Tezos blockchain.
The Tezos wallet app for Ledger devices has been updated to version 3.0.3, introducing several significant enhancements that streamline the user experience and increase transaction security. This latest update offers important improvements designed to facilitate safer and more efficient interactions with the Tezos blockchain.
The Tezos Foundation and Magic, the Wallet-as-a-Service provider, have announced a groundbreaking collaboration aimed at revolutionizing the accessibility and usability of Web3 technologies. This strategic partnership will utilize the pioneering decentralized Tezos blockchain and marks a significant milestone in the journey towards a more inclusive and user-friendly decentralized web experience.
Tezos, a leading blockchain platform renowned for its self-amending capabilities and community-driven governance, has successfully activated Oxford 2, its fifteenth core protocol upgrade. The Oxford 2 upgrade includes enhancements to Smart Rollups and chain security and ensures Tezos remains at the forefront of blockchain innovation.
Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.
Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.
User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.
Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.
Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.
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India’s leading blockchain adoption studio, has announced that Liminal, a leading digital wallet operations infrastructure platform, has successfully completed integration with the Tezos blockchain.
