HashKey Group has launched HashKey Global MENA, obtaining a Virtual Asset Service Provider license in the UAE as of May 12, 2025, marking a strategic expansion in the region.
The move strengthens HashKey Group’s position in the MENA region, offering enhanced services to retail and institutional clients while integrating local currency support.
HashKey Granted UAE VASP License After In-Principle Approval
HashKey Group, known as a leading digital asset financial services provider in Asia, received a VASP license in the UAE. This development follows their earlier In-Principle Approval, which was granted in January 2025.
Ben El-Baz, Managing Director of HashKey Global, stated this is a significant step for serving clients in the UAE. HashKey MENA FZE is the specific entity receiving this authorization.
“This regulatory approval is a pivotal moment for us, as it positions us in the future to serve both retail and institutional clients in the UAE with enhanced accessibility and local currency support.” — Ben El-Baz, Managing Director, HashKey Global
Dubai License Boosts HashKey’s Regional and Global Operations
The acquisition of the VASP license enables HashKey Global MENA to offer virtual asset exchange and broker-dealer services in Dubai, with local currency support. The license is a milestone for HashKey OTC’s regulated offerings expansion.
HashKey’s new roles are expected to enhance its competitive position, aligning with Dubai’s increasing embrace of virtual assets. The license complements global operations in Hong Kong, Singapore, and Japan.
UAE Move Enhances HashKey’s Compliance-First Strategy
HashKey has held licenses in multiple jurisdictions, strengthening its global presence. The UAE license aligns with regional regulatory trends, marking a significant development in virtual asset regulation.
Expert insights from Kanalcoin highlight HashKey’s compliance-first strategy and potential for sustainable growth in the dynamic MENA market. This strategy positions them as a trusted digital asset industry leader.
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