HashKey Secures UAE Crypto Exchange License—Another Nail in Traditional Finance’s Coffin?

Hong Kong’s HashKey just bulldozed into the Middle East with a freshly minted UAE crypto exchange license. Regulators are rolling out the red carpet—while Wall Street still struggles with ’blockchain, not Bitcoin.’

The move signals the UAE’s aggressive push to dominate digital asset markets. Meanwhile, European and US banks are too busy writing ’risk assessment’ reports to notice they’re becoming irrelevant.

Pro tip for traditional finance: Adapt faster. Your compliance departments are costing you the future.

Hashkey still has expansion plans in other regions

Sherif Sanad, Country Manager, HashKey Global MENA explained that as a licensed platform, Hashkey will cater to institutional needs by offering a regulated gateway for fiat crypto transactions.

He adds that, “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.”

He noted that HashKey is committed to working with regulators globally to deliver reliable digital asset products and services. The group already holds licenses in Hong Kong, Singapore, Japan, and Bermuda. The company is also actively pursuing a Markets in Crypto-Assets (MiCA) license in the European Union.

VARA recently announced that it had licensed 30 VASP service providers. Since the announcement, it has handed out a handful of new licenses as well.

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