HashKey lands crypto exchange license in the UAE

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.

KEY Difference Wire helps crypto brands break through and dominate headlines fast