Hong Kong's Hex Trust Strengthens European Presence with French Registration as Crypto Custodian

Hex Trust, a digital asset custodian based in Hong Kong, has extended its presence in Europe through obtaining regulatory approval from France's financial authorities, the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).

This approval allows the company to offer services related to digital asset custody, as well as buying, selling, and trading digital assets in both France and Italy.

The registration process, which involves checks on governance and financial health, was completed successfully, and Hex Trust expressed its excitement over this achievement, considering it a significant milestone for its expansion in the European market.

Additionally, in June of the previous year, the company had received equivalent registration from Italy's Organismo Agenti e Mediatori (OAM).

With the upcoming implementation of new European Union laws in 2024, licensed exchanges and wallet providers from one EU country will have the ability to operate across all 27 EU nations.

This presents an opportunity for companies like Hex Trust to have a broader presence and cater to a wider European customer base.

It is worth noting that France has gained popularity among cryptocurrency firms due to its favorable approach to the industry, offering tax cuts on crypto profits and a streamlined registration process with financial regulatory bodies.