TLDR:
- South Korean crypto firm Hashed Ventures is expanding to Abu Dhabi in partnership with Hub 71.
- Hashed Ventures is in talks with other South Korean crypto firms to bring them into the UAE market.
South Korean crypto investment firm Hashed Ventures has announced its expansion into Abu Dhabi through a partnership with the city’s tech ecosystem group, Hub 71. The move comes as part of Hashed Ventures’ strategy to help other major South Korean crypto firms enter the emerging United Arab Emirates crypto market. CEO Simon Seo-Joon Kim stated that the company will open an office in Abu Dhabi and is already in talks with South Korean crypto companies with valuations exceeding $1 billion to make the transition. Kim highlighted the UAE’s friendly and clear regulatory environment for Web3 startups as a key factor in the decision to expand to Abu Dhabi.
Hub 71, which announced a digital asset initiative earlier this year, will support blockchain and crypto projects with over $2 billion in capital. Hashed Ventures, founded in 2017 and managing $700 million in assets globally, has invested in notable projects such as Axie Infinity, dYdX, and Yuga Labs. The expansion to Abu Dhabi is seen as a strategic move to tap into new opportunities and overcome challenges in the South Korean market.
