Hex Trust Expands to France
Popular digital asset custodian, Hex Trust, has obtained Digital Asset Service Provider (DASP) registration from French regulatory authorities, AMF and ACPR. This move comes as many crypto firms are seeking more favorable jurisdictions due to regulatory tensions in the United States. Hex Trust, originally based in Hong Kong, sees France as a strategic expansion opportunity due to the country’s growing crypto industry. The DASP registration will allow Hex Trust to offer various services to users in France, including digital asset custody and trading. Hex Trust’s CEO, Alessio Quaglini, sees this registration as an important step for their European expansion plans.
Key Points:
– Hex Trust has obtained DASP registration from AMF and ACPR in France.
– The move is part of Hex Trust’s broader European expansion plans.
– The registration allows Hex Trust to offer digital asset custody and trading services in France.
– France has been welcoming crypto firms and recently approved a comprehensive set of regulations for the sector.
– Other crypto companies, such as Bitstamp, Societe Generale’s SG Forge, Binance, and Crypto.com, have also secured regulatory approval in France.
Hot Take:
The expansion of Hex Trust to France and the acquisition of DASP registration highlights the growing importance of favorable regulatory environments for crypto firms. With the regulatory tensions in the United States, many companies are looking to establish their operations in more crypto-friendly jurisdictions like France. This move also showcases France’s willingness to embrace and pioneer the crypto industry, positioning itself as an attractive destination for crypto businesses.