Hex Trust, a provider of bank-grade custody and related services for crypto assets, announced today that it has received provisional approval from the Dubai Virtual Assets Regulatory Authority (VARA) government for a virtual asset MVP license.
Hex Trust is promoting the adoption of the security market to accelerate the development of the virtual asset and blockchain industry in the region. Hex Trust will open an office in Dubai, which will serve as its Middle East regional headquarters.
Currently, Hex Trust is applying for a license from the Dubai Virtual Assets Regulatory Authority (VARA) to serve institutional clients and investors. Hex Trust is now expanding into the Middle East and Europe following a recent $88 million Series B funding round.