Dubai-Based Encryptus Partners With Liminal to Bridge Gap Between Crypto and Fiat

Liminal, a digital asset custody and wallet infrastructure provider, has announced a strategic partnership with Dubai based Encryptus, a pioneer in providing comprehensive fiat off-ramp solutions.

This collaboration aims to transform the digital asset space by offering a compliant and consolidated pathway for institutions to convert crypto to local currencies seamlessly. 

It will also enable Liminal users to seamlessly convert their digital asset treasury into fiat currencies, facilitating business payments in 54 countries and individual payments in 80+ countries to bank wires and mobile wallets (e-wallets).

It is worth noting that in 2023, Liminal announced the grant of an In-Principle Approval (IPA) by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a custody provider for Virtual Assets.

This being said, the partnership can be considered as a step forward in expanding its base in the middle east region, as it yields several key benefits, including:

• Enhanced Clientele Access for Encryptus: By partnering with Liminal, Encryptus gains access to a diverse client base seeking secure and compliant crypto-to-fiat solutions. This expands their market reach and allows them to cater to the specific needs of Liminal's clients.

• Expanded Business Opportunities for Liminal: Liminal can now offer extended service to its existing clients by integrating Encryptus’s off-ramp solutions, enabling direct crypto-to-fiat transfer right from their Vaults app. 

• Simplifying Crypto Transactions: By simplifying complex compliance challenges and streamlining digital to fiat asset conversions, this collaboration makes crypto a more accessible and user-friendly asset for businesses worldwide in a more regulated and in a compliant way. 

By joining forces, both companies are creating an innovative and compliant pathway for institutions to smoothly convert their digital assets into local currencies. This not only simplifies the process, but also ensures that it aligns with regulatory standards, making crypto transactions more accessible and secure for a broader audience.

**Update (July 28, 2026): Following publication of this article, Liminal informed UNLOCK Blockchain that the announced partnership with Encryptus did not become operational. According to the company, the services described below were never launched, and no clients were onboarded through the proposed collaboration.

Encryptus also confirmed to UNLOCK Blockchain that Encryptus Europe UAB, a Lithuanian Virtual Asset Service Provider (VASP), entered into a separate agreement with First Answer Pte Ltd (Liminal Custody), to explore crypto-to-fiat off-ramp services through API integrations. However, Encryptus said the technical integrations were never completed after both parties decided to deprioritize the project.

The remainder of this article reflects the original announcement published in 2024.