Swiss private Bank Julius Baer in a recent Bloomberg article announced that it will be expanding its crypto wealth management services in Dubai UAE. This will be the first digital assets service offering outside of Swtizerland by the bank. As per the article, Julius Baer’s subsidiary JBME will apply for a digital assets license variation on top of its existing permissions in the Dubai Financial Services Authority (DIFC). This would allow the entity to arrange and provide advice and custodial services on digital assets such as Bitcoin, Ethereum and other cryptocurrencies. This is not surprising given that in Julius Baer’s recent global wealth and Lifestyle report, it published that Dubai had risen to the seventh position demonstrating its remarkable success a a destination for the wealthy. The city has emerged as the preferred choice for companies and entrepreneurs seeking a foothold in the Middle East and is highly favoured by expatriates. By providing an attractive tax fr...

  UAE - Hex Trust is the first entity to have received an MVP Operational license from VARA. This is the third licensing stage within the VARA framework, before the FMP Operational license. This means that Hex Trust can now operate under VARA supervision and monitoring. (for more information, please see review www.vara.ae) Mohamed Reda El Sheikh, Head of Compliance MENA &MLRO at Hex Trust, a certified Blockchain Cryptocurrency Auditor, announced this in a LinkedIn post. In the post, El Sheikh stated, "The day has finally arrived. Hex Trust is the first entity to be granted the MVP operational license, and I am the first compliance officer "MLRO" to operate under the first specialized cryptocurrency regulator in the world "VARA". Getting this done is a team effort, and without the support of my superstar colleagues at Hex Trust, I would not have been able to accomplish it. LaraontheBlock spoke with El Sheikh to learn more. El Sheikh explained, "We have ...