Liechtenstein’s Financial Market Authority has reportedly granted their regulatory go-ahead to a new startup dubbed Lirium – established by a Xapo co-founder. 

Specifically, the Lirium initiative – the most recent work of one of the wallet providers Xapo’s co-founders, Federico Murrone, has reportedly been successful in obtaining regulatory approval, from Liechtenstein’s financial regulator, to roll out crypto solution offerings catering to banks, fintech, and marketplaces across the globe. 

Lirium will reportedly come with a plug-and-play backend tool, which primarily looks to make it possible for partners – regardless of neobanks, fintech companies, or traditional banks – to release crypto-centric offerings, without the need of building their own technical capabilities or encountering compliance-related issues. 

Lirium reportedly makes it unnecessary for establishments to set up crypto liquidity management, or deploy their self-developed security solutions since the tool will operate the gamut of their regulatory, technical, operational, and security needs. 

It is reportedly expected that the regulated provision of Lirum’s backend solution will establish a gateway into different neobanks, banks, or marketplaces, having plans to facilitate the purchasing, selling, sending, and secure custody of crypto. 

Murrone reportedly highlighted that the target of the new project is to bring the increasingly popular neobanks, numerous virtual wallets, and mobile apps closer to the crypto sphere.

Lirium’ success in securing the go-ahead from Liechtenstein’s Financial Market Authority (FMA) reportedly leads to a fact that its associates do not have to get the green light from their own jurisdictions.