VARA Grants Licence to HashKey to Operate in Dubai

The Hong Kong-based HashKey Group, a leading end-to-end digital asset financial services group in Asia, on Monday said that HashKey MENA FZE, a member of the HashKey Group, has received an In-Principle Approval (IPA) from the Dubai’s Virtual Assets Regulatory Authority (VARA) for its Virtual Asset Service Provider (VASP) license application.

With this, Dubai’s virtual assets regulator has so far issues licenses to 16 crypto exchanges and brokers. The IPA will allow HashKey Group to offer crypto broker services to retail and institutional investors.

The UAE has emerged as a global hub for cryptocurrency and blockchain innovation, offering what boosters say is a model for the incoming Trump administration on how clear regulations and strategic investment can drive growth in the booming but volatile digital finance sector, according to a media report.

This regulatory approval reinforces HashKey Group’s position as a trusted leader in the virtual asset industry, enabling HashKey to deliver secure and transparent services globally.

Upon final approval, the VASP license will authorise HashKey MENA FZE to offer Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services in and from Dubai to retail investors, qualified investors, and institutional investors.

This milestone also marks significant progress for HashKey OTC, the Group’s over-the-counter trading arm, as it expands its regulated offerings in the Middle East. In doing so, HashKey OTC underscores its commitment to a compliance-first approach, offering investors a secure and efficient environment for digital asset trading.

Licences in Other Countries

HashKey Group holds licenses in Hong Kong, Singapore, Japan, and Bermuda, has a VASP registration in Ireland, and is actively pursuing a MiCA license in Europe to further strengthen its global regulatory footprint. It is considered as one of the top 50 crypto exchanges globally.

As a leading digital asset financial services group in Asia since 2018, HashKey Group has built a global Web3 ecosystem within a high-compliance regulatory framework, including HashKey Exchange, a licensed virtual asset exchange regulated by the Hong Kong SFC; HashKey Global, the global flagship digital asset exchange; HashKey Capital, a global asset manager investing exclusively in blockchain technology and digital assets; HashKey OTC, the compliant over-the-counter (OTC) trading arm of HashKey Group, HashKey Cloud, a leading provider of global Web3 infrastructure; and HashKey Tokenisation, a tokenisation services provider.

The company also possesses a rich on-chain ecosystem, having developed the Ethereum Layer 2, HashKey Chain, and has listed the HashKey platform token HSK. HashKey Group is committed to driving the mass application of blockchain technology, aiming to provide trustworthy and accessible digital asset services to one billion global users.