DUBAI, 5 June, 2024 - The Hex Trust Group, a leading provider of digital asset solutions for institutional finance, protocols, foundations, and the Web3 ecosystem, has secured an additional Virtual Asset Service Provider (VASP) license from the Virtual Asset Regulatory Authority (VARA) in Dubai. This second license extends to its VA Broker-Dealer and VA Management and Investment arm, HT Markets MENA FZE.
The approval follows the issuance of Hex Trust’s full VASP License in November 2023, which allows Hex Trust to provide Virtual Asset Custodial Services to institutional clients and sophisticated investors.
This second license also allows Hex Trust to offer comprehensive Virtual Asset services covering Broker-Dealer and Management and Investment Services, which include regulated Staking Services.
Hex Trust Markets offers safe access to the DeFi ecosystem, where clients can generate yield with native on-chain staking solutions and execute trades with the support of Hex Trust’s dedicated Markets team. Key offerings include:
As the world’s first independent regulator for virtual assets, VARA continues to serve as a transparent and trusted guiding authority for the crypto industry. Hex Trust’s Dubai office was established in June 2022 and is led by MENA Managing Director Filippo Buzzi.
“The approval of this additional VASP license demonstrates Hex Trust’s commitment to fostering crypto ecosystem innovation and enabling safe market access in the Middle East. We are fully committed to expanding into the region and see enormous potential for digital asset growth given the progressive regulations, welcoming governments, and thriving crypto ecosystem.” - Filippo Buzzi, Hex Trust’s Regional Director MENA.
“Hex Trust’s commitment to compliance and regulation has always been a priority, and this has earned us a reputable standing as a reliable partner for both crypto-native and traditional finance institutions. There is so much potential in the Emirate of Dubai and the issuance of the VASP license for Hex Trust Markets demonstrates the evolution of our digital asset service provision to meet the demands of our clients and the market.” - Alessio Quaglini, Co-Founder and CEO of Hex Trust.
The completion of VARA’s licensing process underscores Hex Trust’s commitment to providing a secure and compliant trading environment for digital asset investors in Dubai and reinforces its dedication to contributing to the MENA region’s burgeoning status as a global virtual asset hub.
Positive market sentiment across crypto markets is on the rise, and Hex Trust is well-positioned to deliver 24/7 regulated digital asset services to its 200+ global institutional clients. Since its establishment in 2018, Hex Trust has maintained a strong track record of success with a sharp focus on regulatory compliance and security. Led by seasoned professionals, the company is well-equipped to provide a comprehensive suite of digital asset services to meet the growing requirements of the market and its client base. From advances in blockchain infrastructure to expanding its ecosystem of partnerships and global reach, Hex Trust is optimistic about the future.
***
About Hex Trust
Established in 2018, Hex Trust is a fully licensed digital asset custodian dedicated to providing solutions for protocols, foundations, financial institutions, and the Web3 ecosystem. Get access to custody, DeFi, brokerage, and other services built on regulated infrastructure.
For more information, visit hextrust.com or follow Hex Trust on LinkedIn, Twitter and Telegram.
About VARA
Established in March 2022, following the effect of Law No.4 of 2022, VARA is the competent entity in charge of regulating, supervising, and overseeing VAs and VA Activities in all zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre. VARA plays a central role in creating Dubai’s advanced legal framework to protect investors and establish international standards for Virtual Asset industry governance while supporting the vision for a borderless economy.
For more information visit vara.ae/en/.
