Crypto custodian Hex Trust obtains full license in Dubai

Hex Trust, an institutional crypto custodian, obtained a full Virtual Asset Service Provider license in Dubai as it looks to expand its global presence.

The company announced today that Dubai’s Virtual Assets Regulatory Authority granted the full license, allowing it to offer crypto custodial services to institutional clients and sophisticated investors. Hex Trust in February received an MVP operational license.

Filippo Buzzi, Hex Trust’s regional director of MENA, said in a statement that the firm is committed to expanding into the Middle East as it “sees enormous potential for digital asset growth given the progressive regulations, welcoming governments, and thriving crypto ecosystem in the region.”

Hex Trust, which raised $88 million in its Series B funding round last year, received regulatory approval in France in August to offer services including digital asset custody, purchasing, selling and trading.