HONG KONG, May 12, 2025 /PRNewswire/ — HashKey Group (“HashKey”), a leading end-to-end digital asset financial services group in Asia Pacific, has secured a Virtual Asset Service Provider (VASP) license from Dubai Virtual Assets Regulatory Authority (VARA). The license was granted to HashKey MENA FZE, the operating entity of HashKey Global MENA, marking the official launch of the company in the United Arab Emirates (UAE). With this license, HashKey Global MENA is authorized to provide both Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services within, and originating from, the Emirate of Dubai.

Securing the VASP license represents a significant milestone in HashKey’s market expansion strategy into the region. As the UAE continues to establish itself as the premier hub for digital assets in the Middle East, HashKey Global MENA will cater to consumers and enterprises seeking trusted, compliant access to virtual asset services.

To meet the growing institutional needs, the company will introduce a suite of products and services distinguished by several best in class features:

• USD and AED Deposits & Withdrawals: Offers fiat on and off-ramp, allowing users to directly transfer USD from their bank account to HashKey Global MENA’s fiat wallet. As a strategic partner, Standard Chartered provides fiat currency deposit and withdrawal services for the platform. Powered by the bank’s industry-leading (on & off)-ramp solution, the platform offers users a reliable, and highly efficient fiat deposit and withdrawal experience.
• OTC Services: HashKey Global MENA OTC delivers regulated block trading with competitive all-inclusive pricing, ensuring transparent quotes and zero hidden fees for market-leading rates. Large orders benefit from instant execution, eliminating slippage risks, while flexible settlement options cater to institutional and HNWI liquidity needs.
• Major Top 10 Tokens Available For OTC: Access top-tier cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), alongside stablecoins (USDT, USDC), available through OTC services through on and off ramps using USD and AED. BTC and ETH remain the most sought-after tokens, offering trusted liquidity and alignment with institutional demand. All assets are custodied on a VARA-licensed platform with institutional-grade safeguards.

“As a licensed platform, HashKey Global MENA embraces institutional needs by offering a regulated gateway for fiat-crypto transactions, backed by institutional-grade safeguards and strategic partnerships like Standard Chartered. 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,” said Sherif Sanad, Country Manager, HashKey Global MENA.

The UAE has firmly established itself as the third-largest crypto economy in the MENA region. To meet the needs of this rapidly expanding market, HashKey Global MENA will deliver not just virtual asset trading services, but will continue to evolve and develop innovative digital asset products, designed and delivered within VARA’s robust regulatory and compliance framework.

“At HashKey, we believe innovation in crypto shouldn’t come at the cost of compliance. In fact, the industry’s future depends on building boldly—while staying within clear, trusted regulatory frameworks. That’s why we’re committed to working closely with regulators around the world to deliver reliable digital asset products and services on a global scale,” said Sherif Sanad, Country Manager, HashKey Global MENA.

Advertisement

HashKey Group already holds digital asset-related licenses from regulators in Hong Kong, Singapore, Japan, and Bermuda, as well as VASP registration in Ireland. As part of its ongoing commitment to building a world-class regulatory footprint, the company is also actively pursuing a Markets in Crypto-Assets (MiCA) license in the European Union. The HashKey Global MENA exchange will be live starting from May 19th.

About HashKey Global MENA

HashKey Global MENA is the exchange business under HashKey Group, offering licensed crypto asset trading services to users worldwide. HashKey MENA FZE (VL/18/03/002), the operating entity of HashKey Global MENA, is licensed by the Dubai Virtual Assets Regulatory Authority (VARA) as a Virtual Asset Service Provider. Certain services, features, and campaigns may not be available in your jurisdiction.

Disclaimer: https://group.hashkey.com/disclaimer-group/blank-1 

Logo – https://mma.prnewswire.com/media/2598630/5312377/HashKey_Group_Logo.jpg

Advertisement

View original content:https://www.prnewswire.co.uk/news-releases/hashkey-group-announces-launch-of-hashkey-global-mena-with-vasp-license-in-uae-302452212.html

DUBAI, UAE, May 12, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, and Ghaf Labs, a MENA-based Web3 boutique advisory and consultancy firm, have signed a Memorandum of Understanding (MOU) to enter a multi-year strategic partnership. The alliance aims to drive crypto adoption, ecosystem development, and real-world utility across the Middle East and North Africa (MENA).

This partnership underscores a shared mission to position the region as a global Web3 hub by enabling innovation, supporting regulatory clarity, and fostering meaningful use cases that integrate blockchain into daily life.

Ecosystem Growth and Startup Acceleration

Ghaf Labs, backed by Ghaf Capital Partners—Dubai’s pioneering blockchain-focused private capital firm—offers tailored advisory and incubation services to Web3 ventures across MENA. With its strong regional network and regulatory insight, Ghaf Labs plays a key role in scaling blockchain projects in one of the fastest-growing digital economies.

Together, Bybit and Ghaf Labs will provide equity-free grants, startup support, and access to strategic resources for ventures exploring blockchain, AI, and sustainability—sectors central to the region’s digital transformation.

Advertisement

“Our partnership with Ghaf Labs is rooted in a shared vision for the MENA region — one where crypto isn’t just adopted, but lived,” said Helen Liu, COO and Partner of Bybit. “From developer tooling to lifestyle integration, we’re building the bridges that bring crypto into everyday life.”

Investing in Talent and Community

The collaboration will also launch a series of education initiatives designed to nurture local Web3 talent. These include university partnerships, bootcamps, and developer hackathons, all aimed at empowering the next generation of blockchain builders.

Additionally, both parties will co-develop educational content to improve Web3 literacy across Arabic- and English-speaking communities in the region.

“This partnership with Bybit reflects our shared commitment to advancing Web3 infrastructure, education, and institutional engagement across the MENA region. Together, we aim to accelerate innovation and continue to position the UAE as a global hub for digital assets.”

Advertisement

— Feras Al Sadek, Co-Founder and Managing Partner at Ghaf Labs

Lifestyle, Payments, and Cultural Impact

Beyond development, the partnership highlights the real-world utility of crypto through lifestyle applications like the Bybit Card. This product connects digital assets with premium experiences, including exclusive access through partners such as Grand Millennium Hotels in Dubai—demonstrating the role of crypto in elevating travel, luxury, and everyday spending.

The alliance will also elevate the regional event scene, co-branding marquee events like The Crypto Polo Cup and Crypto Fight Night. These gatherings merge luxury, sport, and Web3 culture to amplify awareness and engagement.

With this MOU in place, Bybit and Ghaf Labs will jointly explore innovation funding, institutional integration, and blockchain-powered use cases across finance, hospitality, education, and beyond—contributing to a resilient Web3 infrastructure in MENA.

Advertisement

This strategic collaboration reinforces the UAE’s status as a forward-thinking jurisdiction and reflects Bybit’s long-term investment in the region’s digital future.

#Bybit / #TheCryptoArk

About Ghaf Labs

Ghaf Labs is a boutique consultancy and advisory firm that specializes in web3 ventures, which are projects that use blockchain and decentralized technologies to create a more open, fair, and secure internet. Ghaf Labs helps web3 ventures expand their presence and adoption in the Middle East and North Africa (MENA) region, by providing them with market insights, strategic partnerships, regulatory guidance, and community building.

About Bybit

Advertisement

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Photo – https://mma.prnewswire.com/media/2684737/Image_2025_05_12_05_51_28.jpg
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/bybit-and-ghaf-labs-announce-strategic-partnership-to-accelerate-web3-adoption-in-the-middle-east-302452187.html

DUBAI, UAE, May 12, 2025 /PRNewswire/ — As the global blockchain community gathered in Dubai for Token2049, DeriW, the flagship perpetual DEX developed by CoinW, made a commanding impression across the city’s most prestigious Web3 gatherings. From high-traffic booths to elite networking events, DeriW showcased its cutting-edge platform designed to deliver zero gas fees, lightning-fast execution at 80,000 TPS, and institutional-grade security—redefining the decentralized trading experience.

Throughout the week, DeriW reinforced its role as a catalyst in the evolution of DeFi, offering CEX-level speed, a frictionless UX, and an extensive range of tradable assets. For both retail traders and institutional players, DeriW is positioning itself as the go-to platform for seamless and efficient perpetual trading.

Token2049 Main Event — A Hub of Influence and Opportunity

Co-exhibiting with CoinW at booths 67–70 in Madinat Jumeirah—Token2049’s most frequented venue—DeriW attracted waves of traffic from crypto enthusiasts, developers, and high-volume traders. The DeriW team engaged in meaningful discussions with both new users and long-time followers of the platform.

Prominent Key Opinion Leaders (KOLs) including William Grazioli, Carol Saab, and Murtuza J were among the industry veterans who visited the booth, offering valuable insights and reaffirming DeriW’s growing influence in the perpetual trading space. Their feedback, coupled with that of the broader community, is actively shaping DeriW’s product evolution and strategic direction.

Advertisement

The event also served as a live demonstration space where traders could experience DeriW’s powerful trading environment first-hand. With its intuitive interface and deep liquidity pools, DeriW left a lasting impression as a high-performance alternative to legacy DEX platforms.

Tomorrow’s Token by CoinW — Igniting Future Collaborations

Held on April 28th, CoinW’s Tomorrow’s Token event brought together emerging innovators, top-tier KOLs, and Web3 founders in one of Dubai’s premier networking spaces. DeriW used this opportunity to initiate impactful conversations on DeFi accessibility, trading incentives, and the future of zero-gas perpetuals as well as engage with key KOLs in the local region. Key Speakers included Dr Marwan AlZarouni from Dubai Blockchain Center, Zaher El Orm from the DMCC Crypto Center who have influenced the growth of Crypto Adoption locally, as well as speakers from renowned projects like Hacken, AWS, Certik and others who shared industry insights.

These meetings laid the groundwork for upcoming integrations, co-marketing campaigns, and ecosystem partnerships, each aligned with DeriW’s mission to deliver world-class DeFi trading infrastructure.

Royal Night with Legends — A Night of Celebration and Connection

Advertisement

Capping off a milestone week, DeriW participated in Royal Night with Legends on May 1st at the exclusive Nobu by the Beach in the Royal Atlantis Hotel—a venue recognized among the UAE’s most sought-after destinations. Hosted by CoinW, the evening was an overwhelming success, bringing together an elite mix of builders, innovators, and community thought leaders in a relaxed yet vibrant setting.

It was a celebration not only of progress, but also of partnership and shared vision. The DeriW team deepened relationships with partners and collaborators, setting the stage for future joint campaigns and growth opportunities in key markets.

What’s Next: Global Scaling in Sight

Token2049 Dubai was more than just a showcase—it was a strategic milestone in DeriW’s global expansion journey. As the team prepares for the next phase of its Mainnet rollout, insights from traders, influencers, and ecosystem partners will directly shape platform enhancements, including deeper liquidity offerings, refined UI/UX upgrades, and more advanced trading tools.

DeriW continues to demonstrate strong momentum during its testnet phase. To date, the platform, backed by CoinW’s infrastructure and expertise, has attracted over 110,000 traders, recorded more than $1.6 trillion in total trading volume, and secured over $15 billion in Total Value Locked (TVL)—a testament to the growing demand for scalable, gasless, and high-performance decentralized trading platforms.

Advertisement

We extend our deepest thanks to everyone who visited our booth, participated in our events, and contributed to our continued growth. For those who missed us in Dubai—stay tuned. DeriW is just getting started, and a new era of decentralized trading is on the horizon.

About DeriW 

DeriW is the first zero-gas-fee decentralized perpetual contract exchange, blending Ethereum’s security with Layer 3 scalability to deliver CEX-like efficiency in a decentralized framework. Operated by CoinW’s seasoned fintech team, it redefines trading with 80,000 TPS throughput, ensuring speed and trustless execution. 

To learn more about DeriW, you can visit the website, and follow DeriW’s X Account, and Telegram Group.

Risk Disclaimer

Advertisement

Trading cryptocurrencies involves substantial risk due to market volatility and may not be suitable for all investors. Prices can fluctuate significantly in a short period, and you should only invest funds that you can afford to lose. DeriW does not offer financial advice and is not liable for any losses resulting from trading activity. Past performance is not a guarantee of future outcomes. We strongly encourage you to conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Status Disclaimer

DeriW remains in a pre-operational testnet phase, during which its trading services are not yet open to the public.

Photo – https://mma.prnewswire.com/media/2684499/DeriW_Dominates_Token2049_Dubai_Gasless_80K_TPS_Perpetual_DEX.jpg
Logo – https://mma.prnewswire.com/media/2618621/CoinW_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/deriw-dominates-token2049-dubai-with-gasless-80k-tps-perpetual-dex-302452138.html