As a seasoned crypto investor with over a decade of experience under my belt, I must say that the recent launch of HT Market MENA by Hex Trust is a game-changer for institutional investors and high net worth individuals in the Middle East. Having navigated through numerous market cycles and witnessed the rise and fall of various crypto exchanges, I can confidently say that this move by Hex Trust signifies a maturation of the industry in the region.
Hex Trust has formally introduced HT Market MENA, a service allowing institutional investors to exchange cryptocurrencies for fiat money using their licensed custodial platform.
As a crypto investor, I recently learned that a press release from the cryptocurrency custodian announced their services offered through HT Market MENA are now accessible to institutional clients and investors with an on-ramp fund balance of at least 368,000 AED or equivalent to $100,000.
Hex Trust Markets grant their clients authorized entry into their systems, empowering them to earn returns using blockchain-based staking options and execute trades backed by assistance from an international trading squad.
Launching HT Markets MENA allows investors in Dubai to exchange their cryptocurrencies for traditional currencies, all while maintaining a secure and trustworthy platform for digital asset trading.
Filppo Buzzi, Regional Director of Hex Trust in the Middle East and North Africa (MENA) region, shared that Hex Trust is among the initial virtual asset broker-dealers in this area. This company provides a safe connection for clients to transfer between traditional (fiat) and digital (crypto) assets. Notably, HT Markets MENA responds to a significant need for onboarding and offboarding services in Dubai.
Buzzi stated that there’s a great opportunity for expansion in virtual assets within Dubai due to its forward-thinking regulations, supportive government, and vibrant cryptocurrency environment.
Currently, when this text is being written, Hex Trust holds three licenses from Dubai’s crypto-focused regulatory body, the Virtual Asset Regulatory Authority. These licenses serve different functions: The first one authorizes Hex Trust to provide virtual asset custodial services, the second allows them to act as a broker and dealer in virtual assets, and the third is for managing and investing in virtual assets, under which HT Markets MENA FZE operates.
Additionally, Hex Trust offers over-the-counter (OTC) trading services for numerous digital assets, customizing sales/purchase deals according to factors like price, duration, and market influence. The company also extends risk management tools for corporate treasury administration, as well as offering extensive liquidity and wide access to the digital asset markets.
In June 2022, Hex Trust established its office in Dubai, aiming to broaden its influence in the Middle East and North Africa (MENA) region. They are collaborating with VARA to ensure secure cryptocurrency trading practices.
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2024-12-18 15:24