HashKey MENA FZE, a member of the leading digital asset financial services group in Asia, HashKey group has obtained an In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA). The digital asset firm confirmed the development in a blog post today, stating that the approval was for its Virtual Asset Service Provider (VASP) license application.
However, it is worth noting that upon final approval, the VASP license will furnish HashKey with the authority to offer Virtual Asset Exchange Services and Virtual Asset Broker-Dealer services in Dubai. These services are available to retail investors, qualified investors, and institutional investors.
Similarly, the approval also signifies a remarkable achievement for HashKey OTC, as it expands its regulated offering to the Middle East. HashKey OTC, the over-the-counter trading arm of the firm emphasizes its commitment to a compliance-first approach, offering a secure and efficient environment for investors interested in digital asset trading.
It is worth noting that this development comes on the heels of the approval of HashKey’s VASP registration by the Central Bank of Ireland last week. As revealed, the digital assets provider obtained the VASP license in order to render crypto services to users in Ireland. The services include fiat-crypto exchange, crypto-crypto exchange, and custodial wallet services.
In August, the digital asset firm also collaborated with Catizen, a revolutionary trading bot on Telegram. According to HashKey, the partnership with Catizen facilitated the onboarding of billions of users into the Web3 space. In addition, HashKey also made provision for all the necessary regulatory and technical assistance needed to aid the infrastructural operations of Catizen.
HashKey Partners with The Open Network (TON) Foundation
At the beginning of the second quarter of 2024, HashKey also partnered with The Open Network (TON), the blockchain Operator built by Telegram Messenger. As revealed, the partnership allowed users in the Asia-Pacific region to exchange their Toncoin for cash. In addition, it created an on-ramp and off-ramp for the cryptocurrency.
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