Hong Kong Digital Asset Group Gets Crypto License In UAE

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Step by step, could be the motto for the global expansion endeavors of the cryptocurrency exchange firm based in Hong Kong, HashKey.

It appears that HashKey could be moving towards broadening its international influence, as the firm has obtained a tentative permit to offer cryptocurrency brokerage services in Dubai.

A Win For HashKey

HashKey Group achieved a significant step forward when the regulatory authority for cryptocurrencies in Dubai granted initial approval for the Hong Kong-based digital asset group to conduct business in the dynamic city of the Middle East.

HashKey MENA FZE, part of the HashKey Group, has been given preliminary approval by the Dubai Virtual Assets Regulatory Authority (VARA) for their application to become a Virtual Asset Service Provider (VASP), according to a statement issued by the group in a press release.

HashKey Group, a leading provider of comprehensive Asian digital asset financial services, announced that their operations in Dubai have received regulatory approval. This endorsement solidifies their reputation as a “reliable pioneer in the virtual asset sector”, enabling them to offer secure and transparent crypto asset services to global clients with confidence.

HashKey’s Global Expansion Hits a New Milestone!

HashKey has received an In-Principle Approval for Dubai VASP License.

About a week past, we obtained VASP registration approval from the Central Bank of Ireland. Now, having acquired In-Principal VASP Approval in Dubai, our…

— HashKey Group (@HashKeyGroup) January 13, 2025

The cryptocurrency financial services team announced that receiving the In-Principle Approval from Dubai’s regulatory body was a major milestone for the group, as it allows their subsidiary, HashKey MENA, to cater to investors within the city.

Services It Will Offer

HashKey Group announced that receiving the In-Principle Approval for the Virtual Asset Service Provider (VASP) license in Dubai will enable the Asian digital asset group to offer digital currency trading services to both retail and institutional investors within the significant Middle Eastern metropolis.

After receiving final approval, HashKey MENA FZE will be granted permission by the VASP license to provide Virtual Asset Exchange Services and Virtual Asset Brokerage Services within Dubai to individual, professional, and institutional investors, as stated by the crypto services group based in Hong Kong.

The Group announced that reaching this recent milestone will enable their over-the-counter (OTC) division to increase its regulated offerings in the Middle East, emphasizing HashKey OTC’s dedication to a “compliance-focused strategy.” This move aims to offer traders a secure and streamlined digital currency trading environment.

Operations Expansion

The HashKey Group persists in advancing, aiming to expand its influence worldwide and cement itself as a reliable pioneer within the digital assets sector.

The Group said getting approved in Dubai is among its key wins towards international expansion.

“Just a week ago, we secured VASP registration approval from the Central Bank of Ireland, and now, with the In-Principle VASP Approval in Dubai, our global footprint continues to expand,” HashKey Group said in an X post.

Additionally, the Asian digital asset organization disclosed their intention to acquire a Markets in Crypto-Assets Regulation (MiCA) license, enabling them to conduct business within states belonging to the European Union. This move aims to bolster their influence in significant global markets.

Currently, HashKey Group holds permits for its operations in Hong Kong, Singapore, Japan, and the island nation of Bermuda.

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2025-01-14 02:42