HONG KONG, Jan. 13, 2025 /PRNewswire/ — HashKey Group (“HashKey”), a leading end-to-end digital asset financial services group in Asia, today announced that HashKey MENA FZE, a member of the HashKey Group, has received an In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for its Virtual Asset Service Provider (VASP) license application. This regulatory approval reinforces HashKey Group’s position as a trusted leader in the virtual asset industry, enabling HashKey to deliver secure and transparent services globally.

Upon final approval, the VASP license will authorise HashKey MENA FZE to offer Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services in and from the Emirate of Dubai to retail investors, qualified investors, and institutional investors. This milestone also marks significant progress for HashKey OTC, the Group’s over-the-counter trading arm, as it expands its regulated offerings in the Middle East. In doing so, HashKey OTC underscores its commitment to a compliance-first approach, offering investors a secure and efficient environment for digital asset trading.

Ben El-Baz, Managing Director of HashKey Global said “We view this milestone as a pivotal moment for us, as it positions us in the future to serve both retail and institutional clients in the UAE with enhanced accessibility and local currency support. This achievement empowers us to deliver trusted, compliant, and seamless virtual asset services, enabling clients to deposit and withdraw in their local currency. At HashKey Global, we are deeply committed to fostering growth in Dubai and the broader MENA region by combining regulatory excellence and a customer-first approach. This marks the beginning of an exciting journey to drive sustainable growth and build lasting relationships in this dynamic market.”

HashKey Group holds licenses in Hong Kong, Singapore, Japan, and Bermuda, has a VASP registration in Ireland, and is actively pursuing a MiCA license in Europe to further strengthen its global regulatory footprint.

About HashKey Group

HashKey Group is a leading digital asset financial services group in Asia with global operations in regions such as Hong Kong, Singapore, Japan, Ireland and Bermuda. Since 2018, HashKey Group has built a global Web3 ecosystem within a high-compliance regulatory framework, including HashKey Exchange, a licensed virtual asset exchange regulated by the Hong Kong SFC; HashKey Global, the global flagship digital asset exchange; HashKey Capital, a global asset manager investing exclusively in blockchain technology and digital assets; HashKey OTC, the compliant over-the-counter (OTC) trading arm of HashKey Group, HashKey Cloud, a leading provider of global Web3 infrastructure; and HashKey Tokenisation, a tokenisation services provider.

HashKey Group also possesses a rich on-chain ecosystem, having developed the Ethereum Layer 2, HashKey Chain, and has listed the HashKey platform token HSK. HashKey Group is committed to driving the mass application of blockchain technology, aiming to provide trustworthy and accessible digital asset services to one billion global users.

Disclaimer

Please be aware that certain services, features, and campaigns may not be available in your jurisdiction. In particular, digital asset exchanges operated under HashKey Group does not service clients from Hong Kong (for HashKey Global), Mainland China and the United States and certain other jurisdictions in compliance with laws and regulations. HashKey is subject to the regulatory approval and receipt of the Financial Services Permission

About HashKey OTC

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HashKey OTC is a leading provider of bespoke digital asset trade execution services, offering a secure and regulated trading environment for institutional and professional clients. With a strong emphasis on compliance and security, HashKey OTC delivers spot trades, crypto on/off ramp services, and access to a diverse range of digital assets and fiat currencies.

For media inquiries, please visit: Website | X | Telegram 

Disclaimer: The information shared in this article is for general informational purposes only. Nothing shared in this article constitutes an offer, recommendation, or solicitation to buy, sell, or engage in any specific asset or investment strategy.

About HashKey Global

HashKey Global is the flagship digital asset exchange under HashKey Group, offering licensed digital asset trading services to users worldwide, and becomes one of the fastest-growing crypto exchanges in 2024. HashKey Global has obtained a license from the Bermuda Monetary Authority providing mainstream trading and service products such as LaunchPad, contracts, leverage, etc.

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Metaverse Wallets Market is Segmented by Type (Desktop Wallet, Online Wallet, Mobile Wallet, Hardware Wallet, Paper Wallet), by Application (Commercial, Individual).

BANGALORE, India, Jan. 13, 2025 /PRNewswire/ — The Global Metaverse Wallets Market was valued at USD 7697 Million in 2023 and is anticipated to reach USD 32310 Million by 2030, witnessing a CAGR of 22.5% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Metaverse Wallets Market:

The Metaverse Wallets market is set for significant growth, driven by the expanding metaverse ecosystem and the increasing need for secure and efficient digital financial tools. As the metaverse evolves into a fully immersive virtual environment, the integration of advanced technologies such as blockchain, artificial intelligence, and decentralized finance (DeFi) enhances the functionality and appeal of metaverse wallets.

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TRENDS INFLUENCING THE GROWTH OF THE TRENDS INFLUENCING THE GROWTH OF THE METAVERSE WALLETS MARKET :

Mobile wallets are pivotal in driving the growth of the Metaverse Wallets market by providing users with seamless and convenient access to their digital assets within virtual environments. These wallets enable easy transactions, secure storage, and efficient management of cryptocurrencies and non-fungible tokens (NFTs) directly from mobile devices. The widespread adoption of smartphones and the increasing reliance on mobile applications for financial transactions have accelerated the integration of mobile wallets into the metaverse. Additionally, mobile wallets offer user-friendly interfaces and advanced security features, enhancing the overall user experience and fostering trust among users. As the metaverse expands and more users engage in virtual economies, the demand for robust mobile wallet solutions continues to rise, thereby propelling the growth of the Metaverse Wallets market.

Online wallets are instrumental in driving the growth of the Metaverse Wallets market by offering accessible and flexible solutions for managing digital assets within virtual spaces. These wallets operate through web-based platforms, allowing users to access their funds and conduct transactions from any internet-connected device. The convenience of online wallets facilitates real-time transactions, enabling users to participate actively in the metaverse’s dynamic economy. Furthermore, online wallets often integrate with various metaverse platforms, providing interoperability and ease of use across different virtual environments. The scalability and adaptability of online wallets make them suitable for a wide range of users, from casual participants to serious investors. As the metaverse continues to evolve, the reliance on online wallet solutions grows, driving the expansion of the Metaverse Wallets market.

Individuals play a crucial role in driving the growth of the Metaverse Wallets market by being the primary users and adopters of these digital financial tools. As more people engage with the metaverse for social interaction, gaming, and commerce, the need for secure and efficient wallet solutions becomes essential. Individuals seek metaverse wallets to store, manage, and transact their digital assets, including cryptocurrencies, NFTs, and virtual goods. The increasing awareness and understanding of blockchain technology and digital finance among the general population further boost the adoption of metaverse wallets. Additionally, the desire for ownership and control over digital assets motivates individuals to invest in metaverse wallets, fostering a robust user base and driving market growth. The continuous expansion of individual participation in the metaverse underscores the importance of metaverse wallets in facilitating seamless digital interactions and transactions.

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Metaverse wallets incorporate advanced encryption techniques and multi-factor authentication to safeguard against unauthorized access and cyber threats. The increasing incidents of digital fraud and theft in virtual environments highlight the need for secure wallet solutions that ensure the integrity and confidentiality of user data. Additionally, privacy features that allow users to control their personal information and transaction history enhance trust and confidence in metaverse wallets. This in turn will drive the Metaverse Wallets market growth.

Integration with blockchain technology is a key factor driving the growth of the Metaverse Wallets market, as it enhances the transparency, security, and efficiency of digital transactions. Blockchain provides a decentralized and immutable ledger that ensures the authenticity and traceability of transactions conducted through metaverse wallets. This integration facilitates seamless peer-to-peer transactions, smart contract execution, and decentralized finance (DeFi) applications within the metaverse. The use of blockchain also reduces the reliance on intermediaries, lowering transaction costs and increasing the speed of asset transfers. Additionally, blockchain’s inherent security features protect against fraud and tampering, making metaverse wallets more reliable and trustworthy.

User experience is a critical factor driving the growth of the Metaverse Wallets market, as it directly impacts user adoption and satisfaction. Metaverse wallets are designed with intuitive interfaces and seamless navigation to ensure that users can easily manage their digital assets and perform transactions within virtual environments. Features such as one-click transfers, customizable dashboards, and real-time notifications enhance the usability and functionality of metaverse wallets.

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METAVERSE WALLETS MARKET SHARE:

North America leads the market, driven by its advanced technological landscape, high adoption rates of blockchain and cryptocurrency technologies, and significant investments in metaverse development by major tech companies.

Europe follows closely, with strong regulatory support, a growing number of blockchain startups, and increasing interest in virtual economies and digital assets.

The Asia-Pacific region is experiencing rapid growth, fueled by the expanding gaming industry, rising smartphone penetration, and substantial investments in metaverse platforms in countries like China, South Korea, and Japan.

Key Companies:

• Enjin
• Coinbase
• Math Wallet
• Coinomi
• Trust Wallet
• ConsenSys(Metamask)
• Alpha Wallet

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

– Metaverse Market

– Development Trends and Application Analysis of the Metaverse

– Metaverse Games Market was estimated to be worth USD 125 Million in 2023 and is forecast to a readjusted size of USD 2016.1 Million by 2030 with a CAGR of 48.5% during the forecast period 2024-2030.

– Metaverse Cybersecurity market was valued at USD 1260 Million in 2023 and is anticipated to reach USD 2832.4 Million by 2030, witnessing a CAGR of 11.3% during the forecast period 2024-2030.

– Metaverse Devices and Accessories Market

– Metaverse Virtual Platform market was valued at USD 1221 Million in 2023 and is anticipated to reach USD 3305.7 Million by 2030, witnessing a CAGR of 15.3% during the forecast period 2024-2030.

– 5G Network for Metaverse Market

– Metaverse in Intelligent Healthcare Market was estimated to be worth USD 1153 Million in 2023 and is forecast to a readjusted size of USD 4798.3 Million by 2030 with a CAGR of 22.6% during the forecast period 2024-2030.

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– Agricultural Metaverse Market

– NFTs in Metaverse Market was estimated to be worth USD 242 Million in 2023 and is forecast to a readjusted size of USD 1158.9 Million by 2030 with a CAGR of 25.9% during the forecast period 2024-2030.

– Industrial Metaverse Market was estimated to be worth USD 10250 Million in 2023 and is forecast to a readjusted size of USD 723700 Million by 2030 with a CAGR of 95.4% during the forecast period 2024-2030.

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The 18th Asian Financial Forum (AFF) 2025, co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), opened today at the Hong Kong Convention and Exhibition Centre (HKCEC). Themed “Powering the Next Growth Engine”, the two-day forum has attracted over 130 global business leaders, policymakers, financial and wealth management experts, entrepreneurs, tech giants and economists as speakers. About 3,600 financial and business elites from over 50 countries and regions are expected to gather and explore how to ignite new engines for growth in 2025 and navigate the challenges ahead.

The forum kicked off with opening remarks by John Lee, Chief Executive of the HKSAR, followed by addresses from Zhou Ji, Executive Vice Director of the Hong Kong and Macao Affairs Office of the State Council of the People’s Republic of China; Dr Pan Gongsheng, Governor of the People’s Bank of China; and Liu Zhenmin, Special Envoy for Climate Change of the People’s Republic of China.

Welcome remarks were delivered by Dr Peter KN Lam, Chairman of the HKTDC, who said: “Future growth will be different to that of the past, as traditional growth models face resource constraints and environmental pressures. Innovations, such as AI, renewable energy, fintech developments and healthcare discoveries, have the potential to power economic growth and enrich human development for decades to come. It is timely that the theme of this year’s Asian Financial Forum, ‘Powering the Next Growth Engine’, addresses these very questions from the perspective of finance and its impacts on broader business communities. The forum will discuss how the finance industry and corporates can support the next generation of innovative businesses and industries to help them unleash their potential and drive global growth in the years ahead.”

The two-day forum presents over 40 sessions ranging from Plenary Sessions, Policy Dialogue, Keynote Luncheons and Breakfast Panel, Fireside Chats, and thematic workshops. Topics included global economic outlook, China opportunities, new markets opportunities, investment outlook, artificial intelligence (AI), fintech, sustainability, philanthropy, and more, giving participants a deeper understanding of future opportunities and insights into global economic development.

Discussion session gathers international experts to address global challenges

This year’s forum is dedicated to driving new thinking, strengthening international cooperation and trust, and addressing the global economic landscape in a challenging environment. Plenary Session I – Innovation: The Solution to Unlock the Next Growth Engines, hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, brought together finance officials and multilateral organisation leaders to examine financial policies in 2025. Guest speakers included Adylbek Kasymaliev, Chairman of the Cabinet of Ministers – Head of the Presidential Administration of Kyrgyz Republic; Muhammad Aurangzeb, Federal Minister of Finance and Revenue of Pakistan; Gilles Roth, Minister of Finance of Luxembourg; and Yoshiki Takeuchi, Deputy Secretary-General, Organisation for Economic Co-operation and Development (OECD).

Plenary Session II – Collaboration: The Road to Growth and Prosperity focused on international cooperation and was also moderated by Christopher Hui. The panel speakers included Roberta Casali, Vice-President of Finance and Risk Management of the Asian Development Bank; Jin Liqun, President and Chair of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB); and Satvinder Singh, Deputy Secretary-General for ASEAN Economic Community of the Association of Southeast Asian Nations (ASEAN). They explored ways to rebuild trust and deepen partnerships amid global challenges to achieve shared growth and common prosperity.

A Policy Dialogue session, Accelerating Growth through Innovation, was moderated by Eddie Yue, Chief Executive of the Hong Kong Monetary Authority. Speakers included Bayardavaa Bayarsaikhan, Director General of the Monetary Policy Department of the Bank of Mongolia; Philip Lane, Chief Economist and Member of Executive Board of the European Central Bank; Rogelio V. Quevedo, Commissioner of Securities and Exchange Commission of the Philippines; and Dr Olli Rehn, Governor of the Bank of Finland. They exchanged valuable insights on issues such as global monetary policy trends and the impact of geopolitical factors on markets, helping businesses and organisations better navigate uncertainty and explore new opportunities for collaboration and growth.

High calibre economists discuss economic growth strategies at today’s Keynote Luncheon 

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Paul Chan, Financial Secretary of the HKSAR Government, gave his welcome remarks at today’s Keynote Luncheon. Prof Justin Lin Yifu, Chief Economist and Senior Vice President of the World Bank (2008-2012), delivered a keynote speech that addressed strategies for achieving stable economic growth. A dialogue session was moderated by Prof Richard Wong, Philip Wong Kennedy Wong Professor in Political Economy and Provost and Deputy Vice-Chancellor of the University of Hong Kong.

Exploring the global outlook, opportunities in China and avenues for cooperation

One of the highlights of the afternoon session, the Global Economic Outlook discussion, was kicked off by Liu Haoling, Vice Chairman and President and Chief Investment Officer of the China Investment Corporation with a special address. The panel discussion was moderated by Victor Chu, Chairman and Chief Executive Officer of First Eastern Investment Group, with speakers including Ernesto Torres Cantú, Member of Executive Management Team and Head of International of Citi; Bonnie Y Chan, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited; J Christopher Donahue, President and Chief Executive Officer of Federated Hermes, Inc; Antoine Gosset-Grainville, Chairman of the Board of Directors of AXA; and Dr Fred Hu, Founder and Chairman of Primavera Capital Group. The participants shared valuable insights on the drivers for global economic growth.

Another well-received panel discussion at last year’s AFF, the China Opportunities session, was joined by some heavyweight speakers, including Charles Li, Founder and Chairman, Micro Connect; Li Yimei, Chief Executive Officer of China Asset Management; Ken Wong, Executive Vice President of Lenovo and President of Lenovo Solutions and Services Group; and Wilson Zhang, Managing Director, Global Executive Head of Equities, China International Capital Corporation Limited. They delved into the potential of the Chinese market and investment prospects under the country’s commitment to technological innovation.

The green economy and sustainable development are among the key topics at this year’s forum. Corporates worldwide are actively undergoing a green transformation as regulators introduce relevant policies. The International Sustainability Standards Board (ISSB) published its first international sustainability disclosure standards, providing clear guidance for the green transition and sustainable development of corporates. In the meantime, corporates in Hong Kong will fully align the ISSB’s sustainability disclosure standards from this year. Sue Lloyd, Vice Chair of the ISSB, will join other speakers to share the latest progress in sustainability reporting standards.

Meanwhile, the HKTDC with AFF Knowledge Partner EY jointly conducted a survey exploring the perspectives and practices of Asian corporations and investors with regard to readiness to sustainability reporting, sustainable finance and climate change. The survey results were released today. Jack Chan, EY China Chairman and EY Greater China Regional Managing Partner, said the survey shared that an increasing number of businesses and investors are considering integrating sustainability into their operations, but barriers persist due to the lack of clearly defined frameworks and accessible resources. The survey also offers actionable insights and recommendations for companies looking to embark on a path toward sustainable development.

Global investment matchmaking and diverse exhibition zones

As one of the highlights of the forum, AFF Deal-making continues to offer an efficient one-on-one matching platform to project owners and investors. This year it has attracted over 270 investors and over 560 investment projects, covering a wide spectrum of sectors such as environment, energy and environmental technology, food and agritech, health tech, fintech, and deep tech. The Deal-making session helps foster active global collaboration and generate new business opportunities.

Diverse exhibition zones foster innovation and cross-border collaboration

This year’s AFF exhibition attracted over 140 fintech companies, start-ups and investment promotion agencies from around the world that are striving to stage an innovative and investment-driven grand financial event.

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A variety of exhibition zones are featured, including the Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone. The InnoVenture Salon offered a platform for over 100 start-ups to showcase the application of innovative technologies across different sectors, of which the Fintech HK Startup Salon has brought together over 60 fintech start-ups, featuring cutting-edge solutions from 22 countries and regions and helping to highlight Hong Kong’s potential as a powerhouse for innovation and technology. The Global Investment Zone connects participants with business opportunities from different countries and regions.

Sharing advanced insights into exploring emerging markets

The session tomorrow offers a wide array of topics, including an exploration of the impact of AI on the financial industry. Prof Stuart Russell, Co-chair of the World Economic Forum’s Council on AI, and Dr Kai-Fu Lee, Chairman of Sinovation Ventures, will deliver remarks at the Keynote Luncheon and Dialogues for Tomorrow respectively, exploring the development and opportunities that AI offers for the future of workforce, investors and businesses from different perspectives.

The Forum and the Gulf Cooperation Council (GCC) co-host the Gulf Cooperation Council Chapter tomorrow, making its debut this year. Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, and Jasem Mohamed AlBudaiwi, Secretary General of the Cooperation Council for the Arab States of the Gulf, will deliver keynote remarks. Financial officials and representatives of financial institutions from Oman, Qatar, Saudi Arabia and the United Arab Emirates will join industry leaders from Hong Kong to discuss the economic development of Gulf countries and the potential for financial cooperation with Hong Kong.

Additionally, the CIO Insights session, moderated by Albert Goh, Chief Investment Officer (External Managers), Exchange Fund Investment Office, Hong Kong Monetary Authority, panelists will share their views on asset allocation plans, maintaining investment convictions, and the opportunities emerging across the wider region and beyond. The session will bring together representatives from internationally renowned large corporations and family office, including Vincent Mortier, Group Chief Investment Officer of Amundi; Bei Saville, Chief Investment Officer, Treasury and Fingerboard Family Office, Advance; Manraj Sekhon, Chief Investment Officer of Templeton Global Investments; and Alexandra Wilson-Elizondo, Partner, Managing Director, and Co-Chief Investment Officer of Multi-Asset Solutions of Goldman Sachs Asset Management.

With environmental, social and governance (ESG) now playing a larger role in the development of businesses, Asia needs to look at achieving the goals set by the Paris Agreement over the next 30 years. COP29 this year have reinforced the global trend towards a green and low-carbon transition. In a session titled Dialogues for Tomorrow – Asia Dialogue on Post COP29 Implementation: Enhance Climate Ambition and Enable Financing Action, Liu Zhenmin, Special Envoy for Climate Change of the People’s Republic of China, will explore innovative financing mechanisms and collaboration opportunities with several leading experts to advance climate initiatives, as well as strategies to strengthen commitments and cooperation on climate goals. Additionally, Joe Tsai, Chairman of the Alibaba Group, will join the Global Spectrum session analysed the role of corporate social responsibility and philanthropy in supporting start-ups and social enterprises from a macro perspective.

For the latest edition of the AFF, the event has collaborated with several organisations to offer special discounts and privileges for travel, dining and shopping, encouraging participants to make the most of their stay in Hong Kong and experience the city’s vitality. Activities offered to visitors include the Peak Tram and Sky Terrace experience, the Aqua Luna Victoria Harbour Cruise, visits to Man Mo Temple and Tai Kwun, dining discounts in Lan Kwai Fong, access to the Winter Wonderland at Happy Valley Racecourse’s Happy Wednesday, and a dining discount provided by Lei Garden. The goal is to give overseas participants a deeper understanding of Hong Kong, promote the conference and mega event economy, and tell positive stories about the city.

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