Hex Trust Receives Regulatory Approval in France to Provide Digital Asset Custody Services

Hex Trust Receives Regulatory Approval in France to Provide Digital Asset Custody Services

August 2, 2023

2nd August 2023

Hex Trust, the leading institutional-grade digital asset custodian licensed across global financial hubs, has obtained the Digital Asset Service Provider (DASP) registration granted by Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France.

Receiving the DASP registration fully enables Hex Trust to provide the following services, such as digital asset custody, the purchase/sale of digital assets for legal tender, and the trading of digital assets against other digital assets. 

The DASP approval is a significant milestone for Hex Trust as it expands in Europe and grows its presence to become one of the continent’s leading licensed digital asset custodians. The DASP registration is a key step towards being licensed in France and soon in the European Union (EU) under the Markets in Crypto-Assets Regulation (MiCA). 

Hex Trust opened its first European office in Milan (Italy) in May 2022 and successfully completed its registration with the Italian Virtual Asset Services Provider (VASP) registry of Organismo Agenti e Mediatori (OAM) in June 2022.

Alessio Quaglini, CEO & Co-founder of Hex Trust

“Receiving the DASP registration from a major EU Regulator is an important vote of confidence and demonstrates our commitment to Hex Trust’s ongoing expansion in Europe. The EU is a key market for Hex Trust, as we see strong growth potential and prepare for the European MiCA regulation, set up to regulate the digital asset industry in the region by 2024.”

The French regulators are taking a progressive stance towards digital assets, intending to transform the country into a crypto hub of Europe. This was evident during EthCC Paris, which attracted over 5,000 attendees. During the Ethereum-focused conference, Hex Trust hosted and participated in several side events sharing insights on institutional-grade digital asset custody for Web3 and GameFi.

About Hex Trust

‍Hex Trust is a fully-licensed and insured digital asset custodian. Led by veteran banking technologists and award-winning financial services experts, Hex Trust has built Hex Safe, a proprietary institutional-grade platform that delivers solutions for digital asset protocols, foundations, financial institutions, and the Web3 ecosystem. Hex Trust has offices in Hong Kong, Singapore, Vietnam, Dubai, Italy, and The Bahamas. 

For more information: visit hextrust.com or follow Hex Trust on LinkedIn, Twitter and Telegram.

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