Hashkey Global MENA hopes to use the new VARA license to serve UAE clients on standard chartered via Crypto Trading, OTC Services, and AED/USD Onramps.
Hashkey Group has obtained a cryptographic license from the local regulator virtual asset regulator in Dubai, allowing it to officially begin operations in the UAE through the Entity Hashkey Menafze.
The license allows Hashkey Global MENA to provide both domestic and broker-dealer services in Dubai. The company is currently collaborating with Standard Chartered to provide services such as Fiat On-Ramps and Off-Ramps and AED.
“Our regional expansion ambitions with a strategic focus on GCC are rooted in empowering Mena’s institutions and HNWIs with seamless, cost-effective access to the global crypto market.
Sherif Sanad, Country Manager at Hashkey Global Mena
On top of that, Hashkey’s OTC trading desk offers block trading to institutions and high-end clients that support silly cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and USD Coin (USDC).
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Hashkey’s expansion into the UAE follows reports that Beijing-based Gaorong Ventures has invested $30 million in the company, pushing its valuation to nearly $1.5 billion.
Gaorong is known for supporting major Chinese tech companies such as Meituan and PDD Holdings, and reportedly invested in a pre-valuation of over $1 billion in money. A Hashkey spokesman later confirmed that the deal brought the company’s post-money valuation to $1.5 billion. This coincides with the level that reached after the $100 million increase in 2024.
read more: Hong Kong’s Hash Key is a new product that jumps into AI, with hints from AI agents
