HashKey Secures In-Principle Approval from VARA, Expanding OTC Trading Services in Dubai

HashKey Group ("HashKey"), a leading end-to-end digital asset financial services provider in Asia, announced today that HashKey MENA FZE, a member of the HashKey Group, has received In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for its Virtual Asset Service Provider (VASP) license application.

This milestone solidifies HashKey Group’s standing as a trusted leader in the virtual asset space, empowering the company to deliver secure, transparent, and globally compliant services.

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, qualified, and institutional investors.

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

"The Middle East represents a fast-growing market for virtual assets, and the demand for regulated, efficient trading services has never been higher. HashKey OTC is uniquely positioned to address this need with our expertise and global experience," Hashkey OTC said in a statement shared with Unlock Blockchain.

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.

"We look forward to introducing tailored OTC trading solutions that cater to the unique needs of investors in the region," the company added. "This includes robust support for institutional-grade liquidity and fiat on/off-ramping in key currencies."

The company is committed to its global strategy and operates under a unified global compliance framework. "Our in-principle approval for the VASP license serves as yet another significant milestone in our journey to offer compliant digital asset services on a global scale,” the company further stated.

"We believe the In-Principle Approval from VARA not only cements HashKey OTC’s position in the global virtual asset space but also validates our ongoing commitment to compliance and innovation," Hashkey OTC concluded. "As we expand into the Middle East, we are excited to bring our expertise in OTC trading to a region poised for exponential growth in digital asset adoption."