Cryptocurrency firms like Coindcx, Hashed, Cadenza Ventures, Vauld, Better Capital, and Sparrow Capital also participated in the round.
Renowned angel investors like UK-based bitcoin advocate and tech entrepreneur Andreas Antonopoulos; Balaji Srinivasan, former CTO of Coinbase; Sandeep Nailwal and Jaynti Kanani, co-founders of Polygon Technologies, and Ajeet Khurana, founder of Singapore-based Reflexical, were among the other angel investors.
The startup plans to use the capital to hire more people and for product development.
Founded in 2021 by Mahin Gupta, Liminal offers a wallet architecture to help secure digital assets on different blockchains.
Multiparty Compute (MPC) is a cryptographic tool that allows multiple parties to perform calculations using their combined data, without revealing their individual input, while MultiSig is a tool used to securely manage crypto accounts common.
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Gupta is co-founder of crypto exchange ZebPay.
“With Liminal, we solve the very real problem of securing and scaling digital assets where users need to use different wallets and frameworks for different protocols,” Gupta said in a statement.
The plug-and-play platform supports trading by eliminating manual operations by 90% and saving hours of manual recharging.
“The safe custody of digital assets is a major challenge facing businesses and institutional investors, and custodians like Liminal will play an important role in facilitating the mass adoption of digital assets and the Web3,” the company said on Tuesday. society.
Liminal said it processed more than $2.5 billion in transactions in one year and automated transactions worth $400 million. He said he had about $50 million in assets under protection.
Liminal’s automated wallet solution makes it easier for crypto-native businesses, SMBs, and Web3 startups to manage their workflows across different blockchain protocols.
It provides services to clients such as exchanges, custodians, banks, trading desks and hedge funds to help them securely scale their digital asset operations, according to the statement.
Liminal counts ZebPay, DIFX and Flitpay among its customers and is currently focused on expanding into the Asia-Pacific and Middle East markets.
“The rapid adoption of digital assets is going to be driven by several new-era crypto businesses and institutions…These businesses are increasingly demanding plug-and-play custody solutions designed with their unique needs in mind,” said Vaas Bhaskar, Director of Elevation Capital.