Notable

<p>Hashed Ventures, a digital-asset company from Seoul, South Korea, is expanding its operations to Abu Dhabi, aiming to bring more Korean companies into the local crypto ecosystem.</p> 
<h2 class="wp-block-heading" id="h-partnership-with-hub71">Partnership with Hub71</h2> 
<p>The crypto investment firm has partnered with Hub71, Abu Dhabi’s global tech ecosystem. Hashed Ventures plans to introduce more Korean startups to the UAE, focusing on financial technology and digital assets. Additionally, Hashed intends to open an office in Abu Dhabi and explore potential fundraising opportunities, according to CEO and managing partner Simon Seo-Joon Kim.</p> 
<h2 class="wp-block-heading" id="h-hashed-s-global-presence">Hashed’s Global Presence</h2> 
<p>Founded in 2017, Hashed oversees around $700 million in assets and has offices in San Francisco and Singapore. Kim stated that the company is actively seeking overseas expansion due to the challenging startup environment in South Korea, particularly the shrinking domestic market.</p> 
<h2 class="wp-block-heading" id="h-expanding-opportunities">Expanding Opportunities</h2> 
<p>“For Korean startups, expanding abroad is mandatory due to our declining population,” Kim said to Bloomberg “Korean entrepreneurs are among the best globally, so international expansion is essential.”</p> 
<h2 class="wp-block-heading" id="h-abu-dhabi-s-crypto-appeal">Abu Dhabi’s Crypto Appeal</h2> 
<p>The UAE is intensifying efforts to attract crypto companies, with Binance, OKX, and Nomura’s Laser Digital already operating in the region. Hub71 has launched a program with over $2 billion committed to funding Web3 startups and blockchain technologies, based in the Abu Dhabi Global Market.</p> 
<h2 class="wp-block-heading" id="h-welcoming-korean-startups">Welcoming Korean Startups</h2> 
<p>“We are excited about welcoming more Korean startups to Abu Dhabi and attracting the most promising Web3 and digital asset technologies to the UAE capital,” said Ahmad Ali Alwan, CEO of Hub71, in an email statement to <a href="https://www.bloomberg.com/news/articles/2024-06-26/south-korea-crypto-investment-firm-hashed-expands-to-abu-dhabi" class="ek-link">Bloomberg</a>.</p> 
<h2 class="wp-block-heading" id="h-strategic-moves">Strategic Moves</h2> 
<p>Kim revealed that Hashed is aiding several South Korea-based companies valued at over $1 billion to enter the Abu Dhabi market, though specific names were not disclosed as the process is ongoing.</p> 
<p>“The UAE is a special market for us due to Abu Dhabi’s friendly and clear guidance for Web3 startups,” Kim said. “Many Web3 startups are now opening offices in Abu Dhabi.”</p> 
<h2 class="wp-block-heading" id="h-hashed-s-portfolio">Hashed’s Portfolio</h2> 
<p>While headquartered in Seoul, most of Hashed’s portfolio companies are outside South Korea. Notable portfolio companies include Yuga Labs (creator of Bored Ape), decentralized derivatives exchange dYdX, and blockchain-based game Axie Infinity. Hashed was also an investor in the failed TerraUSD algorithmic stablecoin.</p> 
<p>The post <a href="https://www.unlock-bc.com/125207/hashed-ventures-abu-dhabi-expansion/">Hashed Ventures Expands to Abu Dhabi’s Growing Crypto Hub</a> appeared first on <a href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.</p>

Hashed Ventures Expands to Abu Dhabi’s Growing Crypto Hub

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