Lirium AG, a company offering plug & play cryptocurrency solutions for banks, digital wallets, and marketplaces around the globe, has received formal approval by the Financial Market Authority (FMA) of Liechtenstein as a blockchain service provider to perform the following services:
Lirium’s specific focus is on enabling its partners, such as Neobanks and FinTechs who already provide financial services to their customers to add cryptocurrency to their product offerings without having to develop technical and compliance capabilities. It offers a unique and free plug & play solution that covers all-encompassing regulatory, technical, operational and security needs. The partners of Lirium do not have to manage cryptocurrency liquidity or security aspects, offer crypto custody or understand how to manage blockchain transactions.
Banks, digital wallets and marketplaces around the globe can now give their own customers the ability to buy, sell, receive, send and store cryptocurrencies in their own mobile apps through an easy integration at the backend level, while keeping full ownership and control of their customer experience.
This solution makes it extremely straightforward for any, even smaller operators, to start offering access to cryptocurrencies to their customers and add a new revenue stream for their business, without the need to obtain local licenses or shoulder the burden of security, operative and regulatory oversight.
Safekeeping clients’ funds and executing transactions on behalf of clients is a regulated activity in most jurisdictions. This means that Lirium, as an authorized and regulated entity, must meet very stringent European compliance and legal standards with respect to Information Security, Governance, Customer Funds Safeguarding and Customer Rights.
Integrating Lirium’s FMA-regulated solution means that:
The internationally recognised FMA of Liechtenstein, which is integrated into the European System of Financial Supervision, combats abuses, safeguards client protection and ensures the stability of the financial centre. The strict standards guarantee that companies regulated by FMA offer a high degree of security to their clients around the world.
Lirium’s team has been in the crypto industry since its inception and has accumulated vast expertise in blockchain, custodial and financial services, compliance, payment networks and cryptocurrency exchange markets. This team has built Xapo – one of the first and most successful Bitcoin wallets in the world (Coinbase acquired Xapo’s institutional custody business for $55 million in 2019). It developed and ran the key technology and operations, by which today Xapo is well recognized in the industry.