Hex Trust (Crypto Custodian) Gets License to Operate in Dubai

Hex Trust has got the final go-ahead to offer crypto custodian services in Dubai. Hex Trust, the well-known crypto custodian has finally got the final license from the Virtual Asset Regulatory Authority (VARA) of Dubai to offer crypto custodian services in Dubai. This was announced on Wednesday () by the officials of Hex Trust.

It is important to note that Hex Trust was entrusted with the MVP (Minimum Viable Product) license earlier this year in February. Now, the recent license grants full and final permission to Hex to offer overall crypto custodian services to sophisticated investors and institutional clients of Dubai.

VARA’s License: The Part of Strategic Hex Trust’s Expansion

Filippo Buzzi, the regional director of Hex Trust shared this news with the media and commented on the recent approval. He was of the view that, Hex Trust is working at a global level and proudly will entertain the crypto community residing in Dubai. Moreover, he disclosed that Hex Trust has the potential to grow in the Middle East as it sees enormous growth and admiration of crypto users.

Also Read: Komainu Is All Set To Offer Custody Services In Dubai As It Receives Regulatory Approval

Due to the crypto-favorable ecosystem and friendly and supportive rules and regulations, the crypto industry is flourishing in Dubai. Now, by having a full license, Hex Trust would be able to offer custodian service in the region to the institutional and crypto giants. Hex Trust also got the green light from France’s financial markets regulator in August to provide digital asset services, indicating a move to expand in Europe

About Hex Trust

Hex Trust is a fully licensed crypto-asset custodian offering solutions for the web3 ecosystem, financial institutions, foundations and markets. Hex Trust is providing its custodian services in multiple countries and expanding day by day. In February 2023, it got an MVP (Minimum Viable Product) license and now the full and final license to provide crypto custodian services in Dubai.