Hex Trust steps into French market, following a successful campaign in Italy. Read more about how the digital assets firm plans to enter the rest of the EU market.
Crypto Custodian Hex Trust Unlocks Access to French Market, EU Expansion Eyed
Hex Trust, a Hong Kong-based digital asset custodian secures registration approval from France’s financial authorities. The Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) have granted Hex Trust the necessary licences to offer digital asset custody services.
Hex Trust can also facilitate buying, selling, and trading of digital assets in France. This approval marks an important stride in its European expansion plans.
The Approval Boosts Hex Trusts’s Euro Expansion
This latest approval in France follows a similar registration obtained from Italy’s Organismo Agenti e Mediatori (OAM) in the previous year. With dual registration in two prominent European markets, Hex Trust is poised to establish itself as a major player in the region’s burgeoning crypto market.
The CEO of Hex Trust expressed excitement about the successful registration in France. He emphasised its importance in achieving the company’s expansion goals in Europe.
The firm anticipates that obtaining regulatory approvals across multiple European countries will be smoother with the forthcoming European Union’s Markets in Crypto-assets (MiCA) regulation, scheduled to take effect in 2024.
More Markets on the Horizon
MiCA is set to streamline the licensing process for crypto exchanges and wallet providers within the EU. The move will enable them to operate seamlessly across the 27-nation bloc. It is also expected to promote increased accessibility and liquidity in the cryptocurrency market while ensuring a higher level of governance and financial scrutiny.
France’s favourable regulatory environment has made it an attractive destination for cryptocurrency firms. The country’s crypto-friendly stance has drawn several players in the digital asset space. Adding to the allure are tax cuts on crypto profits and a simplified registration process with financial watchdogs.
With its strategic move into the European market, Hex Trust is poised to capitalise on the growing demand for secure and compliant digital asset services. By expanding its operations in both France and Italy, the company is set to play a significant role in shaping the future of Europe’s crypto scene, as the industry continues to evolve and gain mainstream adoption.
