Hex Trust, which is a prime digital asset custodian, has acquired for itself the Digital Asset Service Provider (DASP) license in France. This has come through the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the two regulatory bodies. Currently, Hex Trust has the required licenses for the world financial bodies.
With the acquisition of the DASP license, Hex Trust will be able to offer its services related to digital asset custody, along with the buying and selling of digital assets in the form of legal tender. Also included will be the trade of digital assets in exchange for other digital assets.
The attainment of the DASP license is a landmark moment for Hex Trust. Through this, the company will be able to carry out its plans of spreading its operations across Europe and make its mark in the field of being a digital asset custodian. The French license will pave the way for the entity to go in for an operating license for the European Union, which comes under the Markets in Crypto-Assets Regulation (MiCA).
Hex Trust was instrumental in setting up its initial office in Milan, Italy. This was in May 2022. The company was able to obtain the operational license through the Italian Virtual Asset Services Provider (VASP) and the Organismo Agenti e Mediatori (OAM). This took place in June 2022.
According to the CEO and Co-Founder of Hex Trust, Alessio Quaglini, obtaining the DASP license will not only help them to spread their operations further but is also testimony to the fact that their business activities are now being correctly endorsed in the European markets. Their aim now is to obtain the MiCA license in 2024 and take their business further.
In his opinion, France is seemingly inclined towards digital assets and plans to make the country known for creating a crypto space. Quaglini goes on to add that at the EthCC event in Paris, they got the opportunity to share their ideas regarding digital asset custody for Web3 and GameFi, and it was very informative.
Hex Trust is a registered digital asset custodian. The company has expert banking technologists in charge of operations, along with experienced personnel in finance services. The company has been instrumental in creating Hex Safe, which is a patented platform offering solutions for digital asset protocols, as well as foundations and the Web3 ecosystem. They have set up their offices in places like Hong Kong, Singapore, Vietnam, Dubai, Italy, and The Bahamas.