South Korea-based Hashed Ventures Announces Abu Dhabi Expansion
South Korea-based digital asset company Hashed Ventures has announced plans to expand into Abu Dhabi, citing broader expansion ambitions. The Abu Dhabi market continues to attract the attention of many companies due to its open and innovative crypto policies. Hashed Ventures will introduce more South Korean companies to the Abu Dhabi ecosystem.
Hashed Ventures Eyes Global Growth
The company will expand to Abu Dhabi based on open rules and a partnership with Hub71, the country’s tech ecosystem. The crypto investment firm, which has over $700 million in assets under management, currently has offices in Singapore and San Francisco due to the need to spread its reach. Simon Seo-Joon Kim, CEO of Hashed Ventures, announced that the company will explore fundraising opportunities in Abu Dhabi.
Additionally, the expansion comes as the firm faces difficulties in local expansion due to the declining population in Korea and other factors.
Kim added that the company is currently working to bring some South Korea-based companies worth $1 billion to Abu Dhabi. Hashed is known for its portfolio companies including: Yuga Laboratoriesdydx and axie infinity.
Open Regulation Promotes Abu Dhabi’s Web3 Market
In the past few years, Abu Dhabi It stands out as a web3-friendly center that attracts investors to the city. The UAE has stepped up efforts to attract crypto companies including Binance and OKX, with the Hub71 ecosystem launching a $2 billion program to fund web3 firms.
Ahmad Ali Alwan, CEO of Hub71, explained the expectations of South Korean startups and other companies in Abu Dhabi. ““We are excited about the prospect of hosting more Korean startups in Abu Dhabi and attracting the most promising Web3 and digital asset technologies to the UAE capital.”
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David is a financial news writer with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has a talent for keeping up with breaking news. Following trends, David is interested in regulations, partnerships, crypto assets, stocks, NFTs, etc. He reported in various fields such as. Away from the financial markets, David cycles and rides horses.
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