Liminal Newsletter: June Edition

June marked a month of significant milestones in the Web3 world, with groundbreaking developments across various regions. From regulatory approvals to strategic initiatives in emerging technologies, the global digital asset and blockchain landscape continues to evolve rapidly. These advancements underscore the growing mainstream acceptance and integration of digital assets, while also highlighting the complex interplay between innovation and regulation in the sector.

Australia Approves First Spot Bitcoin ETF, Signaling Growing Crypto Involvement

The Australian Securities Exchange (ASX) made headlines by approving its first spot Bitcoin ETF, set to commence trading on June 20. This landmark decision allows investment similar to stocks but with direct Bitcoin holdings, marking a significant step towards mainstream adoption in Australia. The move offers easier access to Bitcoin for traditional investors and could potentially attract more capital to the cryptocurrency market. However, it's important to note that the volatile nature of Bitcoin remains a risk factor for potential investors.

Hong Kong Targets DeFi and Metaverse to Boost Fintech Leadership

Hong Kong has reaffirmed its commitment to fintech innovation through government-backed studies identifying decentralized finance (DeFi) and metaverse technologies as key opportunities. These emerging sectors are seen as potential drivers to enhance the region's dominance in the global fintech landscape. Despite current challenges in both DeFi and metaverse spaces, the reports highlight the potential for significant growth and innovation. This strategic focus demonstrates Hong Kong's proactive approach to staying at the forefront of financial technology advancements.

Circle Becomes First Licensed Stablecoin Issuer Under EU's MiCA Framework

In a landmark move for stablecoin regulation, Circle has become the first licensed stablecoin issuer under the European Union's Markets in Crypto-Assets (MiCA) framework. This development, effective July 1, ensures that Circle's USDC and EURC stablecoins are fully compliant with the new rules. The approval alleviates concerns about regulatory compliance for investors and sets a precedent for stablecoin operations within the EU. This move is likely to enhance trust in stablecoins and could pave the way for wider adoption of digital assets in traditional finance within the European market.

At Liminal, we shared this exciting momentum with several key developments

Building Trust in Taiwan: Liminal Custody announces strategic partnership with XREX 

As part of our growing commitment to the APAC & MENA region, we are excited to announce a strategic partnership with XREX, a leading blockchain-enabled financial institution in Taiwan. This collaboration positions Liminal to showcase its expertise in secure and compliant digital asset custody solutions, meeting the high standards demanded by Taiwanese businesses and regulators.

Taiwan's thriving digital asset market, coupled with its strong regulatory framework, aligns perfectly with Liminal's mission. By partnering with a trusted player like XREX, we gain access to a wider customer base and solidify our position as a leading provider in the APAC region.

Liminal Custody Doubles Down on MENA with new office in Dubai

Following the receipt of an Initial Approval (IA) for a VASP license from VARA, we are proud to announce the opening of our new office in Dubai. This strategic move strengthens Liminal's presence in the rapidly growing MENA region.

Our Dubai office leverages the progressive regulatory environment fostered by the Dubai World Trade Centre (DWTC) Free Zone, a hub for promoting blockchain technology and cryptocurrency regulation. This expansion allows us to better serve the needs of our clients in the region.

Product Enhancement

Introducing Mobile Policy Approval for Greater Flexibility

We are committed to providing you with the tools to manage your digital assets with ease. Our new Mobile Policy Approval feature empowers you to:

• Approve whitelist addresses, spending limits, and transaction limits directly from your mobile device.
• Enjoy a user-friendly interface for effortless policy management.
• Maintain control over your digital assets anytime, anywhere.

Introducing SpeedUp: Take Control of Your Transactions

Experience the transformative power of Liminal's SpeedUp, a cutting-edge solution designed to accelerate your transactions. Utilizing Replace-By-Fee (RBF) technology, SpeedUp offers unparalleled control and flexibility:

• Faster Confirmations: Minimize delays and ensure swift asset transfers with significantly reduced confirmation times.
• Tailored Transactions: Prioritize and customize transaction fees based on your specific needs.
• Seamless Integration: Our intuitive interface provides a smooth user experience.
• Optimized Efficiency: Experience efficient transaction processing even during network congestion.

Product Feature of the month

Liminal Firewall: Enhanced Security at Your Fingertips

We're thrilled to introduce the Liminal Firewall, now with Mobile Wallet support! This revolutionary security feature offers:

• Robust Security Policies: Protect your digital assets with advanced security measures.
• Streamlined Workflows: Automate compliance, governance, and transaction processes.
• Mobile Wallet Support: Enjoy enhanced security on your mobile device, with Hot Wallet support coming soon.

Read more: https://lnkd.in/d3KbvbF4

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