Hex Trust, a fully licensed and insured provider of bank-grade custody and associated services for crypto-assets in Asia, announced today it has obtained provisional approval from the Government of Dubai’s Virtual Assets Regulatory Authority (VARA) to receive a Virtual Asset MVP License.
As a result, Hex Trust is enabling safe market adoption to accelerate the development of the virtual asset and blockchain industry in the region. Hex Trust is opening an office in Dubai which will be used as its regional headquarters in the Middle East.
Dubai has quickly risen as a global crypto hub after the UAE established VARA less than three months ago to grant licenses to crypto firms looking to set up in Dubai. Over the last few months, we’ve seen firms such as Crypto.com and Bybit, Kraken and Binance all establish offices or receive licenses in the UAE.
Currently, Hex Trust is applying for a license with Dubai’s Virtual Assets Regulatory Authority (VARA) to provide services to institutional clients and investors. Hex Trust’s Dubai office will be run by Filippo Buzzi, who has over 14 years of experience in blockchain, tax, and corporate consulting.
After closing its recent USD $88M Series B, Hex Trust is now expanding to the Middle East and Europe