HONG KONG, May 12, 2025 — HashKey Group, a prominent digital asset financial services firm in Asia Pacific, has obtained a Virtual Asset Service Provider (VASP) license from Dubai Virtual Assets Regulatory Authority (VARA). The license was awarded to HashKey MENA FZE, the operating entity of HashKey Global MENA, signifying the company’s official entry into the United Arab Emirates (UAE) market. This license enables HashKey Global MENA to offer both Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services within the Emirate of Dubai and from the city.
The VASP license marks a key achievement in HashKey’s regional market expansion. As the UAE increasingly becomes a leading digital asset hub in the Middle East, HashKey Global MENA aims to serve both individual and institutional clients seeking reliable and compliant virtual asset services.
To address the increasing needs of institutions, the company will roll out a range of products and services characterized by top-tier features:
- USD and AED Deposits & Withdrawals: Providing fiat on- and off-ramps, enabling users to directly deposit USD from their bank accounts into HashKey Global MENA’s fiat wallet. Standard Chartered, as a strategic partner, will provide fiat currency deposit and withdrawal services for the platform. Utilizing the bank’s leading on- and off-ramp solution, the platform offers a dependable and highly efficient fiat deposit and withdrawal experience.
- OTC Services: HashKey Global MENA OTC provides regulated block trading with competitive all-inclusive pricing, ensuring transparent quotes and no hidden fees for the best market rates. Large orders benefit from immediate execution, removing slippage risks, while versatile settlement options cater to the liquidity needs of institutions and HNWIs.
- Major Top 10 Tokens Available For OTC: Access top-tier cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), as well as stablecoins (USDT, USDC), via OTC services through on- and off-ramps using USD and AED. BTC and ETH are the most in-demand tokens, offering reliable liquidity that aligns with institutional demand. All assets are custodied on a VARA-licensed platform with institutional-grade security measures.
“As a licensed platform, HashKey Global MENA meets institutional needs by providing a regulated gateway for fiat-crypto transactions, supported by institutional-grade security and strategic alliances like Standard Chartered. Our regional expansion goals, with a focus on the GCC, are centered on giving MENA’s institutions and HNWIs seamless, cost-effective access to global crypto markets, reinforcing the UAE’s position as a blockchain innovation hub while ensuring compliance and client protection at every stage,” stated Sherif Sanad, Country Manager, HashKey Global MENA.
The UAE has become the third-largest crypto economy in the MENA area. To cater to this rapidly growing market, HashKey Global MENA will provide virtual asset trading services and continue to develop innovative digital asset products designed and delivered within VARA’s strong regulatory and compliance framework.
“At HashKey, we believe crypto innovation should not compromise compliance. The industry’s future relies on building boldly within clear, trusted regulatory frameworks. We are dedicated to working with regulators globally to deliver reliable digital asset products and services on a global scale,” said Sherif Sanad, Country Manager, HashKey Global MENA.
HashKey Group already possesses digital asset-related licenses from regulators in Hong Kong, Singapore, Japan, and Bermuda, along with VASP registration in Ireland. As part of its dedication to building a top-tier regulatory presence, the company is also pursuing a Markets in Crypto-Assets (MiCA) license in the European Union. The HashKey Global MENA exchange will launch on May 19th.
About HashKey Global MENA
HashKey Global MENA is the exchange business under HashKey Group, offering licensed crypto asset trading services to users worldwide. HashKey MENA FZE (VL/18/03/002), the operating entity of HashKey Global MENA, is licensed by the Dubai Virtual Assets Regulatory Authority (VARA) as a Virtual Asset Service Provider. Certain services, features, and campaigns may not be available in your jurisdiction.
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