Hong Kong-based crypto custodian Hex Trust has reached a milestone in its expansion plans in Europe by registering with France's Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR).
Hong Kong-based Cryptocurrency Custody Hex Trust Gets Registered In France
This registration allows Hex Trust to buy, sell and trade digital assets as well as offering digital asset custody services in France. The company had previously received an equivalent registration from Italy's Organismo Agenti e Mediatori (OAM) in June last year.
France has emerged as an attractive destination for crypto-related businesses due to its positive regulatory stance towards the industry. The country offers tax breaks on cryptocurrency profits and streamlined registration processes with financial regulatory authorities.
These factors make France the preferred choice for many crypto firms looking to expand their operations in Europe.
Hex Trust's successful registration in France is expected to facilitate the growth of the company and enable it to enter the European market more effectively.
As the crypto industry continues to gain momentum, regulated custodians such as Hex Trust play a crucial role in providing secure storage and management solutions for digital assets, boosting investor confidence and contributing to the mainstream adoption of cryptocurrencies.
*Not investment advice.