Liminal Strengthens Digital Asset Management with EY Audit Partnership

Liminal Appoints EY for Multi-Year Internal Audit Engagement

Liminal, a prominent name in digital asset infrastructure, is taking a significant step towards enhancing its governance and compliance strategies by partnering with Ernst & Young Advisory Pte. Ltd. (EY) for a crucial three-year internal audit engagement. This strategic move underscores Liminal's dedication to ensuring institutional-grade standards in operational resilience, governance, and compliance across its expansive infrastructure serving various financial institutions, enterprises, and digital asset companies on a global scale.

The collaboration with EY, a leading global professional services organization, is set to focus on enriching Liminal's internal control environment and risk management frameworks. This initiative aligns with regulatory expectations and industry best practices within the burgeoning digital assets ecosystem. Radish Singh, who leads EY's Financial Services Risk Consulting in ASEAN, stated, "As part of the engagement, over the next three years, our EY teams will assist Liminal on its internal audit journey aimed at fortifying their internal processes and controls, alongside their broader governance frameworks. Strong internal audit systems are increasingly vital for digital asset platforms working within regulated and cross-border markets."

Liminal, headquartered in Singapore, has emerged as a premier global provider of blockchain wallet infrastructures and digital asset management solutions tailored specifically for the high-security demands of Web3 institutions. In the words of Mansi Mehta, Global Head - Risk, Forensics and Internal Audit at Liminal, “Our mission has long been to instill the utmost transparency and reliability in digital asset custody. By engaging EY, we aim to review our operational controls to ensure we meet the rigorous standards set forth by financial institutions, regulators, and enterprise clients.”

Since its inception in 2021, Liminal has established a robust market presence, boasting over $80 billion in processed transactions and safeguarding more than $800 million in assets for over 80 leading businesses spanning 12 countries. The company’s offering includes a 'plug-and-play' architecture that simplifies complex digital asset operations such as institutional custody, staking, and automated treasury management.

Liminal’s continuous growth trajectory across emerging markets and governed jurisdictions is supported by this internal audit program, which serves as a foundational step towards achieving broader certification and assurance objectives.

About Liminal Custody

Liminal Custody operates as a digital asset management infrastructure platform, with certifications including SOC 2 Type II and ISO 27001/27701 standards. The platform provides secure wallet infrastructure and custody-technology solutions for institutions in the diverse spectrum of digital assets. With its headquarters in Singapore and offices distributed in India, the UAE, and Taiwan, Liminal has successfully catered to a global clientele, helping them scale and securely manage digital asset operations in accordance with regulatory requirements.

In summary, this partnership between Liminal and EY marks an important milestone in the quest for enhanced audit standards within the digital asset space, promising greater confidence for clients operating in this fast-evolving sector.