HashKey Group Launches MENA Operation Following UAE VASP License Approval
By: financefeeds|2025/05/14 13:30:06
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HashKey Group has announced the official launch of its UAE-based digital asset platform, HashKey Global MENA, after receiving a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority. The license was granted to its local operating entity, HashKey MENA FZE, enabling the company to provide virtual asset exchange and broker-dealer services in and from the Emirate of Dubai. The group said the launch represents a key milestone in its international growth strategy, particularly as the UAE continues to position itself as a hub for regulated digital asset activity in the Middle East. The new platform will serve institutional clients and high-net-worth individuals with access to crypto trading, custody, and fiat on-off ramp services, while operating within VARA’s compliance framework. “A regulated gateway for fiat-crypto transactions” Sherif Sanad, Country Manager, HashKey Global MENA, commented, “As a licensed platform, HashKey Global MENA embraces institutional needs by offering a regulated gateway for fiat-crypto transactions, backed by institutional-grade safeguards and strategic partnerships like Standard Chartered. Our regional expansion ambitions, with a strategic focus on the GCC, are rooted in empowering MENA’s institutions and HNWIs with seamless, cost-efficient access to global crypto markets, reinforcing the UAE’s position as a hub for blockchain innovation while prioritizing compliance and client protection at every step.” HashKey Global MENA will support deposits and withdrawals in both USD and AED, enabled through a partnership with Standard Chartered. The bank provides fiat currency transfer capabilities that allow users to directly fund their accounts via local banking channels. HashKey stated that this setup offers efficient settlement processes and full regulatory clarity for institutions. The exchange also offers over-the-counter (OTC) services for high-volume trades. Clients can access major digital assets such as Bitcoin, Ethereum, and stablecoins through OTC channels, benefiting from live pricing, instant execution, and flexible settlement options. All digital assets are custodied on a platform operating under VARA’s regulatory regime, with a focus on security and transparency. Sherif Sanad further commented, “At HashKey, we believe innovation in crypto shouldn’t come at the cost of compliance. In fact, the industry’s future depends on building boldly—while staying within clear, trusted regulatory frameworks. That’s why we’re committed to working closely with regulators around the world to deliver reliable digital asset products and services on a global scale.” HashKey Group holds digital asset licenses from financial authorities in Hong Kong, Singapore, Japan, and Bermuda, along with VASP registration in Ireland. The firm is also pursuing a MiCA license to operate under the European Union’s new regulatory framework for crypto markets. The company confirmed that HashKey Global MENA’s exchange platform will go live on May 19. The UAE ranks as the third-largest crypto economy in the Middle East and North Africa region. HashKey said it plans to further expand its presence in the GCC and offer digital asset products tailored to regional compliance requirements.
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