HashKey Group declared on Monday that Dubai has granted its Middle East and North Africa division an in-principle license approval.
HashKey’s European subsidiary received Irish approval for a VASP early this month.
The Virtual Asset Service Provider (VASP) licensing application from HashKey MENA has been approved by the Dubai Virtual Assets Regulatory Authority (VARA). According to the press statement, the exchange can now provide cryptocurrency services, including broker-dealer, thanks to the final regulatory permission.
The group’s presence in the area also represents a major advancement for its over-the-counter trading operation.
The press statement stated, “HashKey OTC emphasizes its dedication to a compliance-first strategy, providing investors with a safe and effective environment for trading digital assets.”
Hong Kong, Singapore, and Japan are among the major jurisdictions from which the organization has already obtained licenses. HashKey’s European subsidiary was approved for a VASP in Ireland last week, establishing the country as a rapidly developing hub for cryptocurrency.
Furthermore, HashKey is aggressively seeking a European Markets in Crypto Regulation (MiCA) license. This would increase the exchange’s visibility in the critical global market.
The group posted on X, “We received Central Bank of Ireland VASP registration approval just a week ago, and now, with the In-Principle VASP Approval in Dubai, our global footprint continues to expand.”
Additionally, after obtaining a license to conduct business in Bermuda, the group opened an exchange. April 2024. Bitcoin, Ethereum, USDT, and USDC are among the 21 digital assets for which HashKey Exchange provides spot trading services.
At the time, Livio Weng, COO of HashKey Group, stated that the company’s goal was to surpass all existing regulated exchanges and create one of the biggest clusters of licensed exchanges globally within the next five years.
HashKey, a Hong Kong-based company, became a unicorn in 2024 after a fundraising round that enabled it to reach its $100 million fundraising goal.
