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- HashKey’s license in the UAE will allow it to offer crypto-fiat on-ramp and off-ramp services.
- The group has a strategic partnership with Standard Chartered.
- The digital assets infrastructure developer will also offer OTC crypto trading services.
Asian HashKey Group (HashKey), a digital assets infrastructure and crypto assets service provider, has finalized its crypto exchange and crypto dealer license in the UAE, from Dubai’s Virtual Asset Regulatory Authority (VARA), which will go live on May 19, 2025.
With the license comes the launch of HashKey Global MENA in the UAE, a part of the company’s expansion plans in the MENA region.
The press release notes that to meet growing institutional needs, the company will introduce a suite of products and services that include USD and AED deposits & withdrawals with fiat on and off-ramp with its strategic partner, Standard Chartered.
The service allows users to directly transfer USD from their bank account to HashKey Global MENA’s fiat wallet.
According to Hashkey, it will offer OTC (over-the-counter) services to instantly execute large orders and eliminate slippage risks. It also touted flexible settlement options for institutional clients and HNWI liquidity needs.
The top 10 tokens will be available for OTC customers, including Bitcoin (BTC) and Ethereum (ETH), alongside stablecoins (USDT, USDC). All the assets will be held in custody on a VARA-licensed platform with institutional-grade safeguards.
Hashkey still has expansion plans in other regions
Sherif Sanad, Country Manager, HashKey Global MENA explained that as a licensed platform, Hashkey will cater to institutional needs by offering a regulated gateway for fiat crypto transactions.
He adds that, “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.”
He noted that HashKey is committed to working with regulators globally to deliver reliable digital asset products and services. The group already holds licenses in Hong Kong, Singapore, Japan, and Bermuda. The company is also actively pursuing a Markets in Crypto-Assets (MiCA) license in the European Union.
VARA recently announced that it had licensed 30 VASP service providers. Since the announcement, it has handed out a handful of new licenses as well.
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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Lara Abdul Malak
Lara Abdul Malak is a tech journalist for more than 15 years. She covers blockchain, crypto, tokenization and Web3 news coming out of the MENA region. She wrote for Cointelegraph Arabic Middle East. She studied political science at the American University of Beirut. She got interested in blockchain after interviewing Vitalik Buterin in 2014.
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