Hex Trust Obtains Full Virtual Asset Service Provider License in Dubai
Hex Trust, an institutional crypto custodian, has recently acquired a full Virtual Asset Service Provider license in Dubai. This move is part of the company’s strategy to expand its global presence.
Dubai’s Virtual Assets Regulatory Authority Grants Full License
The company made the announcement today that Dubai’s Virtual Assets Regulatory Authority has granted the full license. This enables Hex Trust to provide crypto custodial services to institutional clients and sophisticated investors. It’s worth noting that Hex Trust had previously received an MVP operational license back in February.
Filippo Buzzi on Expansion into the Middle East
Filippo Buzzi, Hex Trust’s regional director of MENA, expressed the firm’s commitment to expanding into the Middle East. He highlighted the enormous potential for digital asset growth in the region, citing progressive regulations, welcoming governments, and a thriving crypto ecosystem as key factors driving their expansion.
Regulatory Approvals and Funding
Hex Trust, which secured $88 million in its Series B funding round last year, received regulatory approval in France in August. This approval allows them to offer a range of services including digital asset custody, purchasing, selling, and trading.
Hot Take: Hex Trust’s Strategic Expansion into Dubai
Hex Trust’s acquisition of a full Virtual Asset Service Provider license in Dubai marks a significant milestone in its global expansion efforts. With a focus on serving institutional clients and sophisticated investors, this move demonstrates the company’s commitment to establishing a strong presence in key markets with favorable regulatory environments. As digital asset adoption continues to grow, Hex Trust’s strategic approach to securing regulatory approvals and expanding into new regions positions it as a leading player in the institutional crypto custodian space.
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