Hong Kong Digital Asset Group Gets Crypto License In UAE

2025-01-14 12:23:26 Primitive Reading

From bitcoinist by Christian Encila

One step at a time. This could be the mantra of the Hong Kong-based crypto exchange firm HashKey as the company strives to broaden its reach across the world.

HashKey might be getting closer to expanding its global reach after the company secured a provisional license to provide crypto brokerage services in Dubai.

A Win For HashKey

HashKey Group attained a milestone after Dubai’s cryptocurrency regulatory body gave the Hong Kong-based digital asset group the preliminary go-signal to operate in the progressive Middle East city.

“HashKey MENA FZE, a member of the HashKey Group, has received an In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for its Virtual Asset Service Provider (VASP) license application,” the HashKey Group said in a press release.

The premier end-to-end Asian digital asset financial services group said that Dubai’s regulatory approval further positions the HashKey Group as a “trusted leader in the virtual asset industry”, allowing the crypto asset services firm to provide secure and transparent services to international clients.

The crypto financial services group explained that the In-Principle Approval granted by Dubai’s regulatory office marked a significant achievement for the Group because its subsidiary HashKey MENA can now serve the city’s investors.

Services It Will Offer

HashKey Group said that getting In-Principle Approval for the VASP license in Dubai would allow the Asian digital asset group to provide digital currency broker services to retail and institutional investors in the key Middle East city.

Total crypto market cap currently at $3.08 trillion. Chart: TradingView

“Upon final approval, the VASP license will authorize HashKey MENA FZE to offer 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,” the Hong Kong-based crypto services group explained in a statement.

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