HashKey Global MENA Scores Big with VARA License: UAE Crypto Trading Goes Live!

From Dubai to the World: HashKey's Ambitious Expansion

Hold onto your hats, crypto fans! HashKey Global MENA just got the green light from Dubai's Virtual Assets Regulatory Authority (VARA) to shake up the UAE's crypto scene. They're diving in headfirst, ready to serve up crypto trading, OTC services, and slick AED/USD onramps, all powered by Standard Chartered. It's game on in the Emirates!

HashKey Group isn't messing around. They've snagged a shiny new crypto license, and they're launching their operations in the UAE through HashKey MENA FZE. They dropped the bombshell in a Monday press release that's got everyone talking.

With this license, HashKey Global MENA is all set to offer top-notch crypto exchange and broker-dealer services right from the heart of Dubai. And guess what? They're teaming up with Standard Chartered to bring you seamless fiat on- and off-ramps in both USD and AED. It's the kind of move that's got the whole region buzzing!

"Our regional expansion ambitions, with a strategic focus on the GCC, are rooted in empowering MENA's institutions and HNWIs with seamless, cost-efficient access to global crypto markets, reinforcing the UAE's position as a hub for blockchain innovation while prioritizing compliance and client protection at every step."

HashKey Global MENA's country manager Sherif Sanad

But wait, there's more! HashKey's OTC trading desk is ready to roll, offering block trades for institutions and high-net-worth clients. They're supporting heavy hitters like Bitcoin (BTC), Ethereum (ETH), and stablecoins such as Tether (USDT) and USD Coin (USDC). It's a crypto party, and everyone's invited!

HashKey's UAE adventure comes hot on the heels of a massive $30 million investment from Beijing-based Gaorong Ventures. That cash injection has pushed HashKey's valuation to a jaw-dropping $1.5 billion. Talk about a power move!

Gaorong, the folks behind major Chinese tech giants like Meituan and PDD Holdings, made the investment at a pre-money valuation of over $1 billion. A HashKey spokesperson spilled the beans, confirming that the deal has bumped the company's post-money valuation to nearly $1.5 billion. That's right, folks, they're riding high after a $100 million raise in 2024. The future's looking bright for HashKey, and the UAE is just the beginning!