The Hex Trust Groupa Hong Kong-based supplier of digital asset options for institutional finance, protocols, foundations, and the Web3 ecosystem, has secured a further Digital Asset Service Supplier (VASP) license from the Digital Asset Regulatory Authority (VARA) in Dubai.
This second license extends to its VA Dealer-Vendor and VA Administration and Funding arm, HT Markets MENA FZE, Hex Belief stated in a press release on Wednesday.
The approval follows the issuance of Hex Belief’s full VASP license in November 2023, which permits Hex Belief to supply digital asset custodial companies to institutional purchasers and complicated traders.
This second license additionally permits Hex Belief to supply complete Digital Asset companies masking broker-dealer and administration and funding companies, which embrace regulated staking companies.
Hex Belief Markets provides entry to the DeFi ecosystem, the place purchasers can generate yield with native on-chain staking options and execute trades with the assist of Hex Belief’s devoted markets crew.
Its ley choices embrace a world buying and selling crew with devoted shopper assist offering 24/7 buying and selling protection; over-the-counter (OTC) buying and selling options throughout the total spectrum of digital belongings, together with tailor-made gross sales/buy applications to optimize throughout worth, time horizon, and market affect, using proprietary execution algorithms to assist bespoke execution methods; deep liquidity and broad entry throughout the digital asset markets;
threat administration options catering to company treasury threat administration necessities; fiat options facilitating on-ramp/off-ramp companies.
Hex Belief’s Dubai workplace was established in June 2022, and is led by Center East and North America (MENA) Managing Director Filippo Buzzi.
“The approval of this extra VASP license demonstrates Hex Belief’s dedication to fostering crypto ecosystem innovation and enabling protected market entry within the Center East,
“We’re totally dedicated to increasing into the area and see monumental potential for digital asset development given the progressive laws, welcoming governments, and thriving crypto ecosystem,” stated Filippo Buzzi, Hex Belief’s Regional Director MENA.
In the meantime, Alessio Quaglini, Co-Founder and Chief Govt Officer of Hex Belief, stated that Hex Belief’s dedication to compliance and regulation has at all times been a precedence, and this has earned them a good standing as a dependable associate for each crypto-native and conventional finance establishments.
“There may be a lot potential within the Emirate of Dubai and the issuance of the VASP license for Hex Belief Markets demonstrates the evolution of our digital asset service provision to fulfill the calls for of our purchasers and the market,” he added.
Based on the assertion, the completion of VARA’s licensing course of underscores Hex Belief’s dedication to offering a safe and compliant buying and selling atmosphere for digital asset traders in Dubai and reinforces its dedication to contributing to the MENA area’s burgeoning standing as a world digital asset hub.
Hex Belief famous that constructive market sentiment throughout crypto markets is on the rise, and the agency is well-positioned to ship 24/7 regulated digital asset companies to its 200+ world institutional purchasers.
Since its institution in 2018, Hex Belief stated it has maintained a powerful observe report of success with a pointy deal with regulatory compliance and safety.
Led by seasoned professionals, it stated the corporate is well-equipped to supply a complete suite of digital asset companies to fulfill the rising necessities of the market and its shopper base.
From advances in blockchain infrastructure to increasing its ecosystem of partnerships and world attain, Hex Belief stated it’s optimistic in regards to the future.
Animoca Manufacturers and Hex Belief launch NFT-centric custodial pockets three way partnership