Latest news with #HashKeyGlobalMENA
Fintech News ME
14-05-2025
- Business
- Fintech News ME
Hong Kong's HashKey Secures VASP License in Dubai, Launches Operations in UAE
HashKey Group, a digital asset financial services provider based in Hong Kong, has been granted a Virtual Asset Service Provider (VASP) license by the Dubai Virtual Assets Regulatory Authority (VARA). The license was awarded to HashKey MENA FZE, the operational entity behind HashKey Global MENA, marking the official commencement of its operations in the UAE. With this license, HashKey Global MENA is authorised to offer both virtual asset exchange services and virtual asset broker-dealer services within, and from, the Emirate of Dubai. This development is part of HashKey's broader strategy to expand its market presence in the Middle East. As the UAE continues to position itself as a key centre for digital assets in the region, HashKey Global MENA aims to serve both retail and institutional clients seeking secure and compliant access to virtual asset services. To address the increasing demand from institutional investors, the company will roll out a range of services and products. These include support for deposits and withdrawals in both US dollars and UAE dirhams, allowing users to transfer funds directly from their bank accounts into HashKey Global MENA's fiat wallet. Standard Chartered serves as a strategic partner, providing fiat currency deposit and withdrawal services. The platform benefits from the bank's established infrastructure, offering a reliable and efficient process for transferring funds. The firm also offers over-the-counter (OTC) services, providing regulated block trading with transparent pricing. This service is aimed at high-net-worth individuals and institutional clients, ensuring immediate execution for large trades and flexible settlement options. OTC services will support major cryptocurrencies, including Bitcoin and Ethereum, as well as stablecoins such as USDT and USDC, with all assets custodied on a platform licensed by VARA and protected by institutional-grade safeguards. '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 prioritising compliance and client protection at every step,' said Sherif Sanad, Country Manager, HashKey Global MENA. The UAE is currently the third-largest cryptocurrency economy in the MENA region. In response to this growing market, HashKey Global MENA plans to expand beyond trading services by developing and offering a broader range of digital asset products, all within VARA's regulatory framework. HashKey Group already holds digital asset-related licenses in Hong Kong, Singapore, Japan, and Bermuda, as well as a VASP registration in Ireland. It is also pursuing a Markets in Crypto-Assets (MiCA) license in the European Union. The HashKey Global MENA exchange is set to go live on 19 May.
Cision Canada
12-05-2025
- Business
- Cision Canada
HashKey Group Announces Launch of HashKey Global MENA with VASP License in UAE
HONG KONG, May 12, 2025 /CNW/ -- HashKey Group ("HashKey"), a leading end-to-end digital asset financial services group in Asia Pacific, has secured a Virtual Asset Service Provider (VASP) license from Dubai Virtual Assets Regulatory Authority (VARA). The license was granted to HashKey MENA FZE, the operating entity of HashKey Global MENA, marking the official launch of the company in the United Arab Emirates (UAE). With this license, HashKey Global MENA is authorized to provide both Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services within, and originating from, the Emirate of Dubai. Securing the VASP license represents a significant milestone in HashKey's market expansion strategy into the region. As the UAE continues to establish itself as the premier hub for digital assets in the Middle East, HashKey Global MENA will cater to consumers and enterprises seeking trusted, compliant access to virtual asset services. To meet the growing institutional needs, the company will introduce a suite of products and services distinguished by several best in class features: USD and AED Deposits & Withdrawals: Offers fiat on and off-ramp, allowing users to directly transfer USD from their bank account to HashKey Global MENA's fiat wallet. As a strategic partner, Standard Chartered provides fiat currency deposit and withdrawal services for the platform. Powered by the bank's industry-leading (on & off)-ramp solution, the platform offers users a reliable, and highly efficient fiat deposit and withdrawal experience. OTC Services: HashKey Global MENA OTC delivers regulated block trading with competitive all-inclusive pricing, ensuring transparent quotes and zero hidden fees for market-leading rates. Large orders benefit from instant execution, eliminating slippage risks, while flexible settlement options cater to institutional and HNWI liquidity needs. Major Top 10 Tokens Available For OTC: Access top-tier cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), alongside stablecoins (USDT, USDC), available through OTC services through on and off ramps using USD and AED. BTC and ETH remain the most sought-after tokens, offering trusted liquidity and alignment with institutional demand. All assets are custodied on a VARA-licensed platform with institutional-grade safeguards. "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," said Sherif Sanad, Country Manager, HashKey Global MENA. The UAE has firmly established itself as the third-largest crypto economy in the MENA region. To meet the needs of this rapidly expanding market, HashKey Global MENA will deliver not just virtual asset trading services, but will continue to evolve and develop innovative digital asset products, designed and delivered within VARA's robust regulatory and compliance framework. "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," said Sherif Sanad, Country Manager, HashKey Global MENA. HashKey Group already holds digital asset-related licenses from regulators in Hong Kong, Singapore, Japan, and Bermuda, as well as VASP registration in Ireland. As part of its ongoing commitment to building a world-class regulatory footprint, the company is also actively pursuing a Markets in Crypto-Assets (MiCA) license in the European Union. The HashKey Global MENA exchange will be live starting from May 19th.
