HashKey, a Hong Kong-based company, has secured a license to offer cryptocurrency services in Ireland, opening new opportunities in the market.
Entry into a New Market
HashKey has established its position in the Irish market by securing a Virtual Asset Service Provider license from the Central Bank of Ireland through HashKey Europe Limited. The license allows for the provision of various crypto services, including fiat-to-crypto and crypto-to-crypto trading, custodial wallet services, and the transfer of digital assets on behalf of clients.
Global Footprint Expansion
Beyond Ireland and Hong Kong, HashKey continues to expand its global presence by securing licenses in Singapore, Japan, and Bermuda. The firm, which recently introduced its utility token HASK, views its growth in Ireland as a crucial step toward strengthening its presence in key international markets.
Central Bank Approval
To date, the Irish Central Bank has approved 16 digital asset service providers, such as Ripple, Paysafe, MoonPay, Gemini, and Coinbase. Under the MiCAR, VASPs must abide by strict anti-money laundering and counter-terrorism financing measures. Companies undergo rigorous assessments of their operational resilience, security protocols, as well as the fitness and integrity of their management and beneficial owners. In September 2024, Irish Central Bank Governor Deville Rowland reiterated the country's commitment to strengthening the regulatory framework for cryptocurrencies, emphasizing the role of crypto regulations in maintaining Ireland as a secure and progressive financial hub.
HashKey's acquisition of a license in Ireland underscores its efforts to expand internationally, aligning with current regulatory requirements for crypto-assets in Europe.
