Hex Trust, an institutional-grade crypto custodian, has recently marked a significant regulatory milestone by securing a full operating license from Dubai’s Virtual Assets Regulatory Authority (VARA). This pivotal license is the ultimate stamp of approval within VARA’s regulatory framework for virtual asset service providers, which came into effect earlier this year.

Having established a presence in Dubai back in June 2022, Hex Trust initially received a provisional license for its minimum viable product (MVP) in February. The recent attainment is the culmination of VARA’s stringent licensing process, empowering Hex Trust to cater to institutional clients and discerning investors with crypto custodial services in Dubai. Filippo Buzzi, MENA Regional Director at Hex Trust, underlined the company’s commitment to enlarging its footprint in the Middle East. Buzzi highlighted the region’s immense growth potential, owed to forward-looking regulations, supportive governments, and a flourishing digital asset landscape.

Earlier advancements saw the company gaining traction in the European market with the approval for registration with France’s financial markets regulator. This development has enabled the firm to enhance its spectrum of digital asset services across continents. Alessio Quaglini, Co-Founder and CEO of Hex Trust, shared, ‘Hex Trust’s commitment to compliance and regulation has always been a priority. This focus has allowed us to be granted a full operating license in Dubai – one of the few companies to obtain this.’

In light of this news, CryptoForexNews.com, the leading portal for cryptocurrency and forex news, is spotlighting Hex Trust’s accomplishment as a significant event. Sam Jonson, CEO at CryptoForexNews, comments, ‘Hex Trust’s licensing achievement in Dubai is an illustration of the vibrant progress happening within the cryptocurrency custodial landscape. Their success is part of the broader narrative of the industry’s maturation and the vital role of regulation in fostering growth and confidence among investors.’

CryptoForexNews.com continues to be at the forefront, delivering timely and comprehensive news to cryptocurrency enthusiasts and traders. Stay updated with the latest advancements in the crypto custody sector and beyond, as we delve into the developments that shape the digital currency and forex markets at CryptoForexNews.com.