Seoul’s Crypto Investment Firm, Hashed Ventures, Breaks Ground In Abu Dhabi

South Korea-based crypto investment firm Hashed Ventures announced its expansion into Abu Dhabi on 26 June 2024. 

Bloomberg reported that Hub71, Abu Dhabi’s renowned global tech ecosystem, facilitated the partnership. 

The collaboration between Hashed Ventures and Hub71 aims to introduce a wave of Korean startups, particularly those in fintech and digital assets, to the United Arab Emirates (UAE). Hashed Ventures, which manages $700 million in assets, sees this partnership as an opportunity to establish its presence in the UAE capital.

Commenting on the development, Simon Seo-Joon Kim, CEO and managing partner of Hashed Ventures, said, “For the Korean startup, the mission to expand their business abroad is quite mandatory because the biggest problem of Korea is our population is decreasing.”

He added, “But I believe that talent-wise, the Korean entrepreneur is one of the best in the world, so we have to expand our business abroad.”

With plans to open an office in Abu Dhabi, Hashed Ventures aims to expand its presence in key international markets. 

Hub71’s Pivotal Role In Hashed’s Expansion In Abu Dhabi

Ahmad Ali Alwan, CEO of Hub71, expressed his enthusiasm for the partnership and said, “We are excited about the prospect of welcoming more Korean startups to Abu Dhabi and attracting the most promising Web3 and digital asset technologies to the UAE capital.”

Furthermore, Hub71’s recently launched a $2 billion program to support the development of web3 companies in Abu Dhabi.

Exclusive: Seoul, South Korea-headquartered @hashed_official is the latest digital-asset company to expand its footprint in Abu Dhabi, where an advantageous regulatory environment has made it one of the hottest global crypto hubs https://t.co/Rnao3szWSj via @crypto

— Muyao (@MuyaoShen) June 26, 2024

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Abu Dhabi On Path To Become Global Hub For Crypto

Abu Dhabi is emerging as a leading global hub for crypto and digital assets, thanks to its relatively progressive and clear regulatory framework. 

The country is increasingly attracting numerous crypto companies, including industry giants like Binance and OKX. 

Recently, Nomura’s cryptocurrency arm, Laser Digital, also obtained a broker license for both traditional and digital assets Abu Dhabi.

Read more: Nomura’s Crypto Arm Obtains Broker License for Traditional and Digital Assets In Abu Dhabi

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.