Hex Trust, Hong Kong’s institutional-grade digital asset custodian, has obtained a Virtual Asset Service Provider (VASP) license from the Dubai regulator VARA.

Following its minimum viable product (MVP) operational license granted in February 2023, Hex Trust can now offer virtual assets custodial services to institutional clients and sophisticated investors in Dubai.

Hex Trust’s Dubai office, led by Regional MENA Director Filippo Buzzi, was established in June 2022.

“It is exciting for us to become one of the first virtual asset companies to receive this operating license in Dubai,”

Hex Trust is fully committed to expanding into the Middle East and sees enormous potential for digital asset growth given the progressive regulations, welcoming governments, and thriving crypto ecosystem in the region.”

said Filippo Buzzi, Hex Trust’s Regional Director MENA.

“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.

There is so much potential in the Emirate of Dubai. We’re excited to continue to scale our business in the region and make a positive contribution to the virtual asset ecosystem.”

said Alessio Quaglini, Co-Founder and CEO of Hex Trust.

This article first appeared on fintechnews.hk