HashKey Group Opens Dubai Office, Expands Crypto Trading in MENA

HashKey Group, a prominent digital asset financial services provider, has expanded its global footprint by opening a new office in Dubai. The company launched HashKey Global MENA on May 12, 2025, following the acquisition of a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). This strategic move is aimed at enhancing crypto trading opportunities across the Middle East and North Africa (MENA) region.

With the VASP license, HashKey MENA FZE is now authorized to offer virtual asset exchange and broker-dealer services in Dubai. This license enables the company to cater to both retail and institutional clients, as well as support the UAE Dirham (AED). The new platform focuses on facilitating seamless swaps between traditional and cryptocurrencies, allowing clients to trade AED and USD against major cryptocurrencies such as USDT, BTC, ETH, and SOL. One of the key advantages is the transparency in pricing, with no hidden fees, ensuring clarity for users.

HashKey Global MENA has partnered with Standard Chartered to handle fiat transactions, thereby enhancing user trust in the platform. The company places a strong emphasis on protecting client assets through institutional-grade security measures. This regulatory milestone allows HashKey to improve access and provide smooth local currency integration for UAE clients, according to Ben El-Baz, Managing Director of HashKey Global. He highlighted that the license is crucial for expanding the company’s portfolio of regulated products.

The OTC platform offered by HashKey Global MENA supports block trading at competitive cost levels, with clear pricing and prompt execution of large orders to minimize slippage risk. The platform offers various settlement options to accommodate diverse liquidity conditions. Users can trade Bitcoin and Ethereum, as well as buy and sell stablecoins like USDT and USDC. The platform’s USD and AED on- and off-ramp services make it easier for users in the region to access digital assets.

HashKey’s compliance with VARA’s regulatory framework aligns with the region’s crypto policy, which has attracted many crypto firms. The MENA region’s growing acceptance of digital assets, with $389.8 billion in digital asset value received from July 2022 to June 2023, positions Dubai as a hub for cryptocurrency innovation. HashKey’s entry into Dubai strengthens its position in the MENA market, leveraging its leadership in Asia’s digital asset sector to meet the region’s demand for compliant crypto solutions.

Obtaining the VASP license underscores HashKey’s commitment to regulatory compliance and enhances its reputation in the UAE’s cryptocurrency space. The company aims to integrate traditional finance with digital assets, increasing safety and efficiency during trading. This strategic expansion in Dubai is a significant step for HashKey Group, positioning it to capitalize on the growing crypto market in the MENA region.