Liminal has appointed Ernst & Young Advisory Pte. Ltd. for a three-year internal audit engagement, as the Singapore-headquartered digital asset infrastructure provider moves to strengthen governance and risk management amid rising regulatory scrutiny of the digital assets sector.
The engagement will see EY support Liminal’s internal audit programme over the next three years, focusing on internal controls, risk management frameworks and governance structures, the company said.
The work is intended to align Liminal’s operations with regulatory expectations and industry standards across jurisdictions where it serves financial institutions, enterprises and digital asset companies.
“As part of the engagement, over the next three years, EY teams will support Liminal on its internal audit journey aimed at strengthening internal processes and controls, and governance frameworks,” said Radish Singh, EY Asean financial services risk consulting leader.
He added that “strong internal audit frameworks are increasingly critical for digital asset platforms operating in regulated and cross-border environments”.
Digital asset infrastructure firms have faced growing pressure from regulators and institutional clients to demonstrate stronger operational resilience and governance, particularly as traditional financial institutions expand their exposure to blockchain-based services.
Liminal, which is headquartered in Singapore, provides blockchain wallet infrastructure and digital asset management solutions designed for institutional use. The company said the internal audit engagement was part of its efforts to meet the standards expected by regulated financial institutions and enterprise clients.
“Our mission has always been to bring the highest level of transparency and reliability to digital asset custody,” said Mansi Mehta, global head of risk, forensics and internal audit at Liminal. “Engaging EY helps us review our controls and operations to meet the rigorous standards expected by financial institutions, regulators, and enterprise clients.”
Founded in 2021 by digital asset entrepreneur Mahin Gupta, Liminal has expanded its presence across emerging markets and regulated jurisdictions. The company said it has processed more than $80 billion in transactions and safeguards over $800 million in assets for more than 80 businesses operating across 12 countries.
Liminal offers infrastructure designed to support institutional digital asset operations such as custody, staking and automated treasury management. The company said the internal audit programme would serve as a foundation for broader certification and assurance initiatives as it continues to expand internationally.
The digital asset sector has seen increased demand for independent audits and assurance frameworks as firms seek to build trust with regulators and institutional partners following periods of market volatility.
