Hex Trust Greenlit For Virtual Asset License in Dubai


Dubai had its virtual asset law passed in February for the metaverse. This year it was expected to attract foreign investment. Hex trust says it is getting a virtual asset MVP license from vara. 

The regulator is responsible for developing strategies and policies relating to digital assets in the region.  It is the first regulator ever to go the metaverse to better engage with stakeholders. The regulator was established in March of this year courtesy of the licensing regime. 

The custodian says it will open a regional headquarters in the middle east office in Dubai. The firm made its first major run in a 88 million series B round in March. It is called the virtual asset law because it contains clear definitions of digital assets. 

Hex trust is excited to move to the middle east. The company recently got licenses and has a regional headquarters. Hex trust is looking for a new home in the region. The best crypto news and insights come to you in your inbox every evening. 

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