Hex Trust, a fully licensed and insured provider of bank-grade custody and related services for crypto-assets in Asia, today announced that it has obtained provisional approval from the Virtual Assets Regulatory Authority (VARA ) from the Government of Dubai to receive a Virtual Assets MVP license. .
Accordingly, Hex Trust enables safe market adoption to accelerate the development of the virtual asset and blockchain industry in the region. Hex Trust opens an office in Dubai which will serve as regional headquarters in the Middle East.
Dubai has quickly become a global crypto hub after the UAE established VARA less than three months ago to license crypto companies looking to set up shop in Dubai. Over the past few months, we have seen companies such as Crypto.com and Bybit, Kraken and Binance establish offices or receive licenses in the United Arab Emirates.
Currently, Hex Trust is applying for a license with the Virtual Assets Regulatory Authority (VARA) in Dubai to provide services to institutional clients and investors. Hex Trust’s office in Dubai will be headed by Filippo Buzzi, who has over 14 years of experience in blockchain, tax and business advisory.
After closing its recent US$88 million Series B, Hex Trust is now expanding into the Middle East and Europe