HashKey Group Obtains In-Principle License from Dubai Virtual Assets Authority
HashKey Group has received in-principle approval from the Dubai Virtual Assets Regulatory Authority (VARA) for its subsidiary, HashKey MENA FZE. This license enables HashKey to expand its services in Dubai.
Key Points
- Approval allows HashKey to offer exchange and broker-dealer services in Dubai.
- HashKey MENA FZE will enhance HashKey OTC operations in the Middle East.
- HashKey holds licenses in Japan, Bermuda, Singapore, Hong Kong, and recently received VASP registration from Ireland’s central bank.
- The firm must comply with EU’s MiCA regulations following its recent license approvals.
- HashKey can now provide regulated services including crypto-to-fiat exchanges and custodian wallet services.
Recent Developments
- Launched native HashKey Platform Token (HSK) with a supply of 1 billion tokens.
- 65% of HSK is allocated for ecosystem growth; 30% reserved for the team.
- HSK reached an all-time high of $2.56 but is currently trading at $1.69, down 34% from ATH.
- Formed partnership with Cinda International Asset Management to launch Short-Term Asset-Backed Liquidity Notes on Ethereum.