HashKey MENA partners with Aptos and Daya for a strategic collaboration to build a Middle East-Africa compliant stablecoin payment corridor

June 4 HashKey MENA FZE — a virtual asset trading platform authorized by the Dubai Virtual Asset Regulatory Authority (VARA) — is leading a milestone initiative: exploring how compliant stablecoins can power cross-border commercial settlements between the Middle East and Africa. To tackle longstanding inefficiencies in traditional finance, HashKey MENA has signed a cross-border corridor pilot agreement with the Aptos Foundation to launch an enterprise-grade (B2B) stablecoin payment pilot program. In partnership with pan-African stablecoin payment platform Daya, this pilot lets businesses test regional trade settlements on Aptos’ Layer 1 blockchain. Specifically, it will roll out fiat deposit and withdrawal channels for the Nigerian naira and other African currencies, plus core traditional tools like SWIFT and bank wires, local currency virtual accounts, and integrated payment APIs for enterprises and fintech firms. As the Middle East’s leading over-the-counter (OTC) trading service provider, HashKey MENA uses a first-party transfer model, offering regulated UAE Dirham (AED) and U.S. Dollar (USD) plus multi-currency stablecoin fiat on- and off-ramps to help regional businesses convert between local fiat and digital assets seamlessly. This move is set to upend the current operating model of traditional remittance and foreign exchange channels, where banks often grapple with pain points like exorbitant fees, unfavorable exchange rate losses, and slow settlement times. By leveraging regulated stablecoin rails, HashKey MENA aims to develop faster, more cost-effective settlement solutions while upholding strict compliance standards. The pilot is supported by ongoing, comprehensive due diligence, built entirely within VARA’s rigorous licensing framework to meet all the authority’s broader regulatory requirements. This cements HashKey MENA’s position as a key institutional hub connecting the UAE to emerging economies in Africa, proving that a mature, compliant digital asset infrastructure can bridge highly fragmented regulatory environments.