Hex Trust, Cryptocurrency Custodian, Secures Full License in Dubai
Date: 2023-11-15 Author: Dima Zakharov Categories: BUSINESS, IN WORLD
Hex Trust Expands Global Reach with Full License in Dubai
Hex Trust, a leading institutional cryptocurrency custodian, has successfully acquired a full license as a Virtual Asset Service Provider (VARA) from the Dubai Virtual Assets Regulatory Authority. This comprehensive license empowers Hex Trust to provide cryptocurrency storage services to institutional clients and experienced investors. Notably, Hex Trust had previously secured its operational MVP license in February.
Ambitious Expansion into the Middle East
Philippe Butzi, the Regional Director of Hex Trust in the MENA region, expressed the company's ambition to expand its operations in the Middle East. In his statement, Butzi highlighted the tremendous potential for digital asset growth in the region, citing progressive regulations, government hospitality, and a flourishing crypto ecosystem.
Hex Trust's Funding and Regulatory Approvals
Hex Trust, which secured $88 million in a Series B funding round last year, continues to strengthen its position in the cryptocurrency custody space. In August, the company received regulatory approval in France, enabling it to offer a range of services, including storage, purchase, sale, and trading of digital assets.
