HashKey Group, an end-to-end digital asset financial services group in Asia, announced that HashKey MENA FZE, a member of the HashKey Group, has received an In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for its Virtual Asset Service Provider (VASP) license application.
This approval reinforces HashKey Group‘s position as a trusted participant in the virtual asset industry, enabling HashKey to “deliver secure and transparent services globally.”
Upon final approval, the VASP license will “authorize HashKey MENA FZE to offer Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services in and from the Emirate of Dubai to retail investors, qualified investors, and institutional investors.”
This milestone marks progress for HashKey OTC, the Group’s over-the-counter trading arm, as it “expands its regulated offerings” in the Middle East.
In doing so, HashKey OTC underscores its commitment to a “compliance-first approach,” offering investors a “secure and efficient environment” for digital asset trading.
Ben El-Baz, Managing Director of HashKey Global said:
“We view this milestone as a pivotal moment for us, as it positions us in the future to serve both retail and institutional clients in the UAE with enhanced accessibility and local currency support. This achievement empowers us to deliver trusted, compliant, and seamless virtual asset services, enabling clients to deposit and withdraw in their local currency. At HashKey Global, we are deeply committed to fostering growth in Dubai and the broader MENA region by combining regulatory excellence and a customer-first approach. This marks the beginning of an exciting journey to drive sustainable growth and build lasting relationships in this dynamic market.”
HashKey Group holds licenses in Hong Kong, Singapore, Japan, and Bermuda, has a VASP registration in Ireland, and is actively “pursuing a MiCA license in Europe to further strengthen its global regulatory footprint.”
As covered, HashKey Group is a digital asset financial services group in Asia with global operations in regions “such as Hong Kong, Singapore, Japan, Ireland and Bermuda.”
Since 2018, HashKey Group has built a Web3 ecosystem within “a high-compliance regulatory framework, including HashKey Exchange, a licensed virtual asset exchange regulated by the Hong Kong SFC; HashKey Global, the global flagship digital asset exchange; HashKey Capital, a global asset manager investing exclusively in blockchain technology and digital assets; HashKey OTC, the compliant over-the-counter (OTC) trading arm of HashKey Group, HashKey Cloud, a leading provider of global Web3 infrastructure; and HashKey Tokenisation, a tokenisation services provider.”
HashKey Group possesses a “rich” on-chain ecosystem, having developed the Ethereum Layer 2, HashKey Chain, and has “listed the HashKey platform token HSK.”
HashKey Group is committed to driving the “mass application” of blockchain technology, aiming to provide “accessible digital asset services to one billion global users.”
