- In February, the business was granted a minimum viable product (MVP) operating license.
- In August of 2023, the French government authorized the firm to provide its services.
Hex Trust, a cryptocurrency custodian based in Hong Kong, has been awarded approval to provide its services in Dubai to institutional customers and investors.
On November 15, the company was granted a full Virtual Asset Service Provider (VASP) license by the Virtual Asset Regulatory Authority (VARA) in Dubai. In February 2023, the business was granted a minimum viable product (MVP) operating license, and it is now authorized to provide its services inside the jurisdiction.
Expanding Global Outreach
Moreover, Federal grants and crypto-friendly rules continue to make the UAE an attractive destination for anyone involved in the crypto sector. Also, provisional approval, a minimum viable product (MVP) license, and a full market product license are the three stages of the VARA licensing procedure in Dubai for cryptocurrency firms.
According to Filippo Buzzi, Director of MENA Operations at Hex Trust, the firm now joins a small but increasing group of crypto exchanges and service providers that have been awarded permission to operate in Dubai.
Furthermore, Hex Trust co-founder and CEO Alessio Quaglini adds that Dubai gives a fantastic chance for firms in the industry to thrive and capitalize on the proactive regulatory stance of the area.
In addition, in August of 2023, the French government authorized the firm to provide its services to French businesses. Offices for Hex Trust may be found in a number of different countries, including Hong Kong, Singapore, Vietnam, Dubai, Italy, and France.
Moreover, Hex Trust is one of four main cryptocurrency custodians recently revealed by MetaMask Institutional as being incorporated into its wallet and browser extension to offer custodial offerings for institutional customers.
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