BlockBeats News, June 4th. The HashKey MENA FZE, a virtual asset trading platform authorized by the Dubai Virtual Asset Regulatory Authority (VARA), is leading a milestone initiative: exploring the use of compliant stablecoins to empower cross-border commercial settlements between the Middle East and Africa. To address the inefficiencies of traditional finance, HashKey MENA has signed a corridor pilot agreement with the Aptos Foundation to advance an enterprise-grade (B2B) stablecoin payment pilot program.

This pilot, in collaboration with the pan-African stablecoin payment platform Daya, allows businesses to explore regional trade settlement on the Aptos Layer One blockchain. Specifically, it will open fiat in/out channels for the Nigerian Naira and other African currencies, along with traditional SWIFT and bank wire functions, local currency virtual accounts, and integrated payment APIs for enterprises and fintech.

As the leading over-the-counter (OTC) trading service provider in the Middle East region, HashKey MENA offers a first-party transfer model, providing compliant UAE Dirham (AED)/US Dollar (USD) and multi-currency stablecoin fiat on/off ramps to help regional businesses achieve seamless conversion between local fiat and digital assets.

This move will challenge the existing operation model of traditional remittance and foreign exchange channels; traditional banks commonly face pain points such as high fees, exchange rate losses, and lengthy settlement processes. Through regulated stablecoin channels, HashKey MENA aims to develop faster, more cost-effective settlement solutions while maintaining strict compliance standards. The pilot project is underpinned by comprehensive ongoing due diligence, built within VARA's rigorous licensing framework to meet its broader regulatory requirements. This reinforces HashKey MENA's position as a key institutional hub connecting the UAE with emerging economies in Africa. It demonstrates that a mature, compliant digital asset infrastructure can bridge highly fragmented regulatory environments.