Hong Kong-headquartered Hex Trust has received a license in Dubai to operate as a virtual asset service provider.
Hex Trust has received a minimum viable product (MVP) license from the Virtual Assets Regulatory Authority (VARA) in Dubai, according to a statement.
This will allow the crypto custodian to provide virtual asset services to institutional clients and sophisticated investors in Dubai, including virtual assets custodial services, broker-dealer services and staking services.
MENA Headquarters
The MVP license follows the opening Hex Trust’s Dubai office and the obtainment of a provisional license in June this year. The new office serves as the headquarters for the Middle East and North Africa, which is headed by MENA regional director Filippo Buzzi.
«Being amongst the first companies to be granted the MVP is exciting, given the enormous potential of the sector in Dubai,» said Hex Trust co-founder and CEO Alessio Quaglini.
