Miguel Cordon · · 1 min readHex Trust wins license for virtual asset services in Dubai
Hong Kong-based Hex Trust has secured a license from Dubai’s Virtual Assets Regulatory Authority (VARA) to provide services to institutional clients and investors in the Emirati city.
Photo credit: Hex Trust
The company, which offers services including staking, brokerage deals, and virtual asset custody, secured a minimum viable product (MVP) license a few months after getting a provisional license in June. Hex Trust opened an office in Dubai at around the same time to serve as its Middle East and North Africa (MENA) headquarters, which is led by former Fidinam blockchain head Filippo Buzzi.
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“Hex Trust looks forward to expanding our client base in Dubai following the license approval and making a positive contribution to the VA ecosystem in the region,” Buzzi said in a statement.
The expansion comes after the company raised US$88 million in series B funding from Animoca Brands and Liberty City Ventures, among others.
Editing by Eileen C. Ang
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