Hong Kong-based cryptocurrency asset custodian Hex Trust has received regulatory approval to offer virtual asset custodial services to institutional clients and investors in Dubai. The company, which already had a minimal viable product (MVP) operations license, has now obtained a full virtual asset service provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). This approval allows Hex Trust to join a select group of cryptocurrency exchanges and service providers operating in Dubai. The company’s Regional Director of MENA, Filippo Buzzi, expressed enthusiasm for the potential of the Middle East market, citing progressive regulations and a thriving crypto ecosystem in the region. Hex Trust also recently received regulatory approval to offer its services in France. The United Arab Emirates, with its crypto-friendly regulations and government grants, continues to attract participants in the cryptocurrency industry.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Middle East |
| Countries | ðŸ‡ðŸ‡° 🇫🇷 🇮🇹 🇸🇬 🇦🇪 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Filippo Buzzi, Janice, Alessio Quaglini, John McAfee |
| Companies | Crypto.com, Dubai’s Virtual Asset Regulatory Authority (VARA), Komainu, OKX, CoinShares, FTX, Ledger, Laser Digital Middle East, Bybit, BitOasis, Nomura, Huobi, Binance, Hex Trust |
| Currencies | None |
| Securities | None |
