- The license granted by VARA allows Hex Trust to offer crypto custodial services to institutional clients and sophisticated investors, the company said.
Hex Trust, an institutional crypto custodian, obtained a full Virtual Asset Service Provider license in Dubai as it looks to expand its global presence.
The company stated today that it has received a full license from Dubai’s Virtual Assets Regulatory Authority (VASA), allowing it to provide crypto custodial services to institutional clients and sophisticated investors. Hex Trust acquired an MVP operational license in February.
According to Filippo Buzzi, Hex Trust’s regional director of MENA, the firm is committed to expanding into the Middle East because it “sees enormous potential for digital asset growth given the progressive regulations, welcoming governments, and thriving crypto ecosystem in the region.”
Hex Trust, which obtained $88 million in Series B funding last year, was granted regulatory authority in France in August to provide services such as digital asset custody, purchasing, selling, and trading.
Bitcoinworld reported recently that the Singapore-based cryptocurrency exchange, Crypto.com, has been granted a license to operate certain virtual asset servicing activities in Dubai by the Dubai Virtual Assets Regulatory Authority (VARA).
Is Dubai gearing up to become a hub for digital assets?
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