Hashed Ventures, a leading South Korean crypto firm, is set to expand its operations to Abu Dhabi by partnering with Hub71, a prominent tech ecosystem in the UAE capital. This strategic move aims to bolster Hashed’s presence in the Middle Eastern market and support the growth of tech and crypto startups in the region.
CEO Simon Seo-Joon Kim, in an announcement on June 26, detailed plans to establish an office in Abu Dhabi. The firm is also in discussions with major South Korean crypto entities to encourage their entry into the UAE’s burgeoning crypto market. Kim praised the UAE for its supportive environment for crypto entrepreneurs, contrasting it with the challenges faced in South Korea, such as a shrinking local population and regulatory hurdles.
The UAE has been actively courting innovative crypto firms, and Hashed Ventures is among the latest to capitalize on this opportunity. The firm plans to assist other South Korean companies with significant market valuations in establishing a foothold in the UAE. CEO Kim emphasized the UAE’s attractive market conditions and regulatory clarity as key factors in their decision.
“Abu Dhabi has the most friendly and clear guidance for Web3 startups,” said Kim. He also noted the ongoing migration of several crypto and Web3 startups to Abu Dhabi, highlighting the city’s growing appeal.
Founded in 2017, Hashed Ventures has a track record of backing early-stage digital asset projects and has invested in leading platforms such as Ethereum, Terra, and Klaytn. The partnership with Hub71 is expected to provide Hashed Ventures with strategic resources and support to facilitate its portfolio of companies and startups in Abu Dhabi.
Hub71, a state-backed global tech ecosystem in Abu Dhabi, offers a range of services including access to funding, market opportunities, and mentorship. It has previously partnered with various companies across different sectors, including Mubadala Investment Company, to promote innovation and support tech firms.
By leveraging Hub71’s extensive network and resources, Hashed Ventures aims to explore new investment opportunities and make a significant impact in the Abu Dhabi crypto market. This collaboration marks a significant step in Hashed Ventures’ mission to expand its influence and foster innovation in the digital asset and blockchain sectors.
