HashKey Expands Crypto Services in Dubai with VARA License, Launching HashKey Global MENA for OTC and Fiat Trading

Published: 2025-05-12 16:41:43 |

HashKey Group, a leading digital asset financial services provider in the Asia-Pacific, has officially entered the MENA region by launching HashKey Global MENA in Dubai after securing a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This move enables HashKey to offer regulated crypto exchange and broker-dealer services in the UAE, supporting both institutional and retail clients with fiat-to-crypto trading between AED, USD, and key cryptocurrencies including BTC, ETH, USDT, and SOL. Through a partnership with Standard Chartered, clients benefit from transparent fiat transaction processes and no hidden fees. The platform emphasizes institutional-grade security and regulatory compliance, aligning operations with local laws to strengthen user trust. OTC services provide instant execution, zero slippage, and multiple settlement methods tailored for the region. This expansion aims to capitalize on the growing crypto demand in the Middle East and North Africa, highlighted by the region’s $389.8 billion crypto transaction volume from July 2022 to June 2023. HashKey’s entry could spur further institutional adoption, enhance local market liquidity, and position Dubai as a pivotal hub in the global digital asset ecosystem.

Bullish

The news marks a bullish development for the crypto market in the MENA region, particularly for major cryptocurrencies like BTC, ETH, USDT, and SOL. HashKey’s regulated entry into Dubai with a VARA license increases institutional participation and fosters greater market confidence. Partnerships with established banks and compliance with local regulations position Dubai as a key crypto trading hub, suggesting potential growth in trading volumes and liquidity. The integration of local currencies and transparent fiat processes lowers barriers for institutional investors, which historically coincides with positive short- and long-term price action. The emphasis on compliance and security strengthens user trust and can attract conservative capital into the market. The combination of increased access, robust infrastructure, and regulatory clarity is likely to support higher trading activity and bolster the regional market.