Hex Trust has successfully obtained its operational license from the VARA in Dubai.
In Brief
Hex Trust has now received a comprehensive operating license from Dubai's VARA that will allow it to expand its crypto custodial offerings.
Institutional crypto custodian Hex Trust The announcement highlighted that the company has officially secured a comprehensive operational license from the Virtual Assets Regulatory Authority (VARA) in Dubai. This achievement places Hex Trust among the pioneering virtual asset firms to be licensed in the area.
This development signifies the culmination of the VARA licensing process, permitting Hex Trust to proceed with providing custodial services for cryptocurrencies to institutional clients and sophisticated investors in Dubai.
In its statement shared on X (formerly Twitter), the company expressed pride in contributing towards the growth of the virtual asset ecosystem within the MENA region, affirming its dedication to regulatory adherence, compliance, and ongoing innovation in the crypto sector.
📢 Great news! Hex Trust has officially been awarded a complete Virtual Asset Service Provider (VASP) license by VARA in Dubai 🇦🇪, marking its position as one of the initial virtual asset enterprises to achieve this operational approval in the region. https://t.co/FkwHgDOLQY
— Hex Trust (@Hex_Trust) November 15, 2023
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The firm noted its intention to expand its operations in the region, guided by the favorable regulatory landscape, supportive governments, and a robust crypto ecosystem that possesses remarkable potential for growth in digital assets. Middle East Ambitious Plans for Global Expansion by Hex Trust
In February, VARA granted Hex Trust a minimum viable product (MVP) operational license, and acquiring this full operational license enables the company to further its ambitions of a worldwide presence.
The firm has also garnered regulatory endorsement in France to offer a portfolio of services, including digital asset custody, purchasing, sales, and trading, showcasing its strategic growth into European markets as well.
In August, the company secured , please keep in mind that the information provided on this page should not be interpreted as legal, tax, investment, financial, or any kind of professional advice. It's crucial to invest only what you can afford to lose and seek independent financial guidance if you have uncertainties. For additional details, we recommend checking the terms and conditions or the support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and unbiased news, but remember that market conditions can change promptly.
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In line with the Trust Project guidelines Alisa, a passionate reporter at Cryptocurrencylistings, focuses on cryptocurrency, zero-knowledge proofs, investments, and the vast field of Web3. With a sharp awareness of emerging trends and technologies, she provides in-depth coverage to keep readers informed and engaged in the rapidly evolving digital finance arena.
