HashKey MENA Leads Aptos-Powered Stablecoin Corridor Pilot Linking Middle East and Africa
This initiative challenges the status quo of traditional remittance and FX corridors, which are often burdened by higher costs, FX friction and longer settlement timelines through traditional banking channels.
HashKey MENA FZE, the Dubai-based virtual asset exchange licensed by the Virtual Assets Regulatory Authority (VARA), is leading a landmark initiative to explore regulated stablecoin-enabled settlement flows for cross-border commerce between the Middle East and Africa. In a strategic move to address the inefficiencies of traditional finance, HashKey MENA has entered into a Corridor Pilot Agreement with the Aptos Foundation to roll out a pilot B2B stablecoin payment corridor. Operating in partnership with Daya, a Pan-African stablecoin payments platform, this pilot enables corporates to explore regional trade settlement use caseson the Aptos Layer 1 blockchain. Specifically, on- and off-ramps will be used across Nigerian Naira and additional African currencies, alongside traditional SWIFT and bank wire capabilities, virtual local-currency accounts, and payment APIs that businesses and fintechs can integrate directly. As a leading Middle East OTC provider, HashKey MENA provides the essential, compliant AED/USD and multi-currency on- and off-ramps to stablecoins on a first-party transfer basis, supportingregional businesses in transitioning seamlessly between local fiat and digital assets.
This initiative challenges the status quo of traditional remittance and FX corridors, which are often burdened by higher costs, FX friction and longer settlement timelines through traditional banking channels. By utilizing regulated stablecoin rails, HashKey MENA aims to explore a faster, more cost-competitive settlement solution while maintaining robust compliance standards. The pilot program underpinned by comprehensive and ongoing due diligence, is structured to operate within VARA’s rigorous licensing framework and in accordance with its broader regulatory requirements. This project reinforces HashKey MENA’s position as a pivotal institutional link between the UAE and emerging African economies, demonstrating that sophisticated, compliant digital asset infrastructure can bridge even the most diverse regulatory environments.
The execution of this corridor is supported by the Aptos Foundation, which acts as the ecosystem partner to help fund more cost-efficient execution across the protocol. On the African corridor, Daya is expected to serve as the local payment infrastructure partner, providing compliant on- and off- ramps connectivity through its proprietary smart routing engine to maximize liquidity across African markets. Daya offers traditional SWIFT and bank wire capabilities, virtual local-currency accounts, and payment APIs that businesses and fintechs can integrate directly. Together, these partners empower HashKey MENA to facilitate a two-phase rollout. Multinational corporates will fund local payments across borders by on-ramping local currency at one node and off-ramping at the other. The initial phase is intended to lay the foundation for a full-scale B2B trade settlement model where stablecoins may serve as the primary settlement asset across supported corridors.
This partnership marks the strategic expansion of HashKey’s Asia Connect network into Africa, building on a trajectory of rapid growth that began in June 2025. Since launching its inaugural stablecoin corridor between Hong Kong and the Philippines, the network has integrated key nodes across Southeast Asia—including landmark collaborations with CAEX and VPBank in Vietnam and extended into the Middle East via HashKey MENA. Most recently highlighted at the Hong Kong Web3 Festival in April 2026, the Asia Connect network unites a diverse ecosystem of partners to provide businesses and individuals with a fast, compliant, and low-cost infrastructure for cross-border transfers and seamless conversions between stablecoins and local currencies.
