HashKey Receives In-Principle Approval for Dubai VASP License
HONG KONG, Jan. 13, 2025 /PRNewswire/ -- HashKey Group ("HashKey"), a leading end-to-end digital asset financial services group in Asia, today 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 regulatory approval reinforces HashKey Group's position as a trusted leader in the virtual asset industry, enabling HashKey to deliver secure and transparent services globally.
Upon final approval, the VASP license will authorise 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 also marks significant 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.
About HashKey Group
HashKey Group is a leading 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 global 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 also 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 trustworthy and accessible digital asset services to one billion global users.
Please be aware that certain services, features, and campaigns may not be available in your jurisdiction. In particular, digital asset exchanges operated under HashKey Group does not service clients from Hong Kong (for HashKey Global), Mainland China and the United States and certain other jurisdictions in compliance with laws and regulations. HashKey is subject to the regulatory approval and receipt of the Financial Services Permission
About HashKey OTC
HashKey OTC is a leading provider of bespoke digital asset trade execution services, offering a secure and regulated trading environment for institutional and professional clients. With a strong emphasis on compliance and security, HashKey OTC delivers spot trades, crypto on/off ramp services, and access to a diverse range of digital assets and fiat currencies.
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About HashKey Global
HashKey Global is the flagship digital asset exchange under HashKey Group, offering licensed digital asset trading services to users worldwide, and becomes one of the fastest-growing crypto exchanges in 2024. HashKey Global has obtained a license from the Bermuda Monetary Authority providing mainstream trading and service products such as LaunchPad, contracts, leverage, etc.
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