HashKey obtains in-principal approval for VASP licence in Dubai

By receiving regulatory approval from VARA, HashKey solidifies its position in the virtual asset industry, allowing the company to provide secure and transparent services worldwide. After obtaining the final approval, the VASP licence is set to enable HashKey MENA FZE to deliver virtual asset exchange services and virtual asset broker-dealer services in and from the Emirate of Dubai to retail investors, qualified investors, and institutional investors.

Furthermore, the announcement supports HashKey OTC, the group’s over-the-counter trading arm, as it scales its regulated offerings in the Middle East. Through this, HashKey OTC highlights its commitment to compliance, equipping investors with a safe environment for digital asset trading.

Currently, HashKey Group is licensed in Hong Kong, Singapore, Japan, and Bermuda, holds a VASP registration in Ireland, and is pursuing a MiCA licence in Europe to solidify its global regulatory footprint.

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Since the start of its operations in 2018, HashKey Group has developed a Web3 ecosystem within a high-compliance regulatory framework, including HashKey Exchange, HashKey Global, HashKey Capital, HashKey OTC, HashKey Cloud, and HashKey Tokenisation. Additionally, the company has an on-chain ecosystem, with it creating the Ethereum Layer 2, HashKey Chain, and listing the HashKey platform token HSK. HashKey Group expressed its commitment to assisting the broad application of blockchain technology, intending to offer accessible digital asset services to users globally.

Back in October 2024, HashKey Global collaborated with Sumsub to optimise Know Your Customer (KYC) and Anti-Money Laundering (AML) processes. Three months prior to this announcement, Sumsub assisted HashKey Global in improving and simplifying user verification processes, which led to more efficient onboarding and augmented compliance for its large user base of approximately 600,000 registered individuals.