Hashed Expands To Abu Dhabi, Seeking New Era For Korean Startups

Key Points:

• Hashed Ventures expands to Abu Dhabi in partnership with Hub71.
• South Korea-based digital asset firm manages $700 million in assets.

Hashed expands to Abu Dhabi, partnering with local tech ecosystem, Hub71. The firm aims to bring Korean startups to the UAE, benefiting from its friendly regulatory environment.

Abu Dhabi is the next location for expansion, says South Korea-based digital asset firm Hashed Ventures, as it taps into the conducive regulatory environment that puts the city on track to becoming one of the leading crypto hubs.

Hashed Expands to Abu Dhabi: A New Crypto Hub

The firm partnered with Abu Dhabi’s global tech ecosystem, Hub71, and expressed interest in bringing more Korean startups to the United Arab Emirates, especially those in the fintech and digital-asset sectors. Founded in 2017, Hashed Ventures manages some $700 million in assets, with a global presence in San Francisco and Singapore.

Its chief executive officer and managing partner, Simon Seo-Joon Kim, said Hashed emphasizes the need for overseas expansion by Korean startups, given the country’s shrinking population and intensely competitive home market.

Kim said the UAE was a special market because of its ‘friendly’ regulator and clear guidance for web3 startups. He added that many enterprises had opened offices in Abu Dhabi.

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The Role of Hub71 in Attracting Global Tech Startups

Hashed Ventures is actively helping companies based in South Korea worth more than $1 billion enter the Abu Dhabi market. It has lured crypto firms such as Binance, OKX, and Nomura’s Laser Digital; more than $2 billion in capital is pledged to bankrolling Web3 startups and blockchain technologies.

Ahmad Ali Alwan, chief executive officer of Hub71, looks forward to hosting Korean startups in Abu Dhabi. Based in Seoul, Hashed Ventures has invested in several companies worldwide, including Yuga Labs, dYdX, and Axie Infinity.