HashKey Group Secures Provisional License in Dubai, Strengthening Global Expansion Efforts
One step at a time—this seems to be the guiding principle of HashKey Group, the Hong Kong-based cryptocurrency exchange firm, as it continues its ambitious journey toward global expansion.
HashKey is inching closer to strengthening its global presence after securing a provisional license to offer crypto brokerage services in Dubai, a dynamic and forward-thinking hub in the Middle East.
A Milestone for HashKey Group
HashKey Group recently achieved a significant milestone after the Dubai Virtual Assets Regulatory Authority (VARA) granted the company In-Principle Approval (IPA) for its Virtual Asset Service Provider (VASP) license application.
“HashKey MENA FZE, a member of the HashKey Group, has received an In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority for its Virtual Asset Service Provider license application,” the company announced in an official press release.
This regulatory green light underscores HashKey’s growing reputation as a trusted leader in the virtual asset industry. The approval positions HashKey to offer secure and transparent crypto services to investors globally, further reinforcing its credibility in the digital asset space.
Expanding Regulated Offerings
With the preliminary approval from Dubai’s regulatory body, HashKey MENA FZE is set to provide a range of services, including Virtual Asset Exchange and Broker-Dealer Services. These services will cater to retail investors, qualified investors, and institutional investors across Dubai, upon receiving final approval for the VASP license.
“This approval marks a significant achievement for the Group,” HashKey explained. “It enables our subsidiary HashKey MENA to serve Dubai’s investors and extend our regulated offerings in the Middle East.”
In addition, the company emphasized that its over-the-counter (OTC) trading arm remains committed to a compliance-first approach, ensuring that traders in the region can access a secure and efficient platform for digital currency transactions.
Global Expansion in Full Swing
The In-Principle Approval in Dubai comes on the heels of another major regulatory win for HashKey. Just a week prior, the Group secured VASP registration approval from the Central Bank of Ireland.
“Securing the Dubai VASP approval is another key step in our international expansion journey,” HashKey Group said in a social media post. “Our global footprint continues to grow.”
The Group also announced that it is actively pursuing a Markets in Crypto-Assets Regulation (MiCA) license, which would enable operations across the European Union’s member states.
At present, HashKey holds operational licenses in Hong Kong, Singapore, Japan, and Bermuda. The company’s growing portfolio of licenses reflects its commitment to expanding its global presence while adhering to strict compliance standards.
Strengthening Presence in the Middle East
Dubai’s regulatory approval is not only a testament to HashKey’s adherence to compliance but also a gateway to accessing one of the most progressive markets in the Middle East. With its latest milestone, HashKey is strategically positioned to deliver innovative crypto solutions to a diverse range of investors in the region.
As HashKey continues to expand its reach and services worldwide, the Group reinforces its status as a trusted leader in the fast-evolving virtual asset industry. The company’s steady and calculated approach ensures that it remains at the forefront of innovation in the digital asset space.