Liminal has announced the launch of its cross-border payments app, now available in alpha on TestFlight for the first 100 users.

The app is designed for individuals who send money internationally for family, work, or study. Liminal's service offers significantly lower fees, ranging from 0.15% to 0.45%, compared to the 6% average charged by traditional banks for international money transfers. The platform also provides real-time settlement on supported rails.

A key feature of the app is the ability for users to earn approximately 5% APY on their idle balances without any lock-in periods or promotional conditions. The app allows users to load funds from the US, EU, Mexico, Brazil, Argentina, Indonesia, and the Philippines, and send money to over 60 countries across Africa, APAC, Europe, the Middle East, and the Americas.

This move marks Liminal's entry into the consumer remittance market, a departure from its established presence as a digital asset custody and wallet infrastructure provider for businesses. The new app signals a strategic expansion for Liminal, aiming to capture a share of the lucrative remittance market by offering a more efficient and cost-effective solution than traditional financial institutions.

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