Crypto News- Hashed Ventures Expands to Abu Dhabi Through Hub71 Partnership

Crypto News- Hashed Ventures’ Investment Portfolio and Expansion Strategy

Crypto News– Seoul-based crypto venture capital firm Hashed Ventures is expanding its footprint in Abu Dhabi through a new partnership with the city’s global tech hub, Hub71, as reported by Bloomberg.

Hashed Ventures plans to establish a local office in Abu Dhabi and explore fundraising opportunities in the city, according to Hashed CEO Simon Kim in an interview with Bloomberg. The firm aims to facilitate the entry of Korean startups into the UAE market, focusing on fintech and blockchain sectors. Kim noted that Hashed has already begun collaborating with South Korean companies valued at over $1 billion, helping them enter the Abu Dhabi market.

Hub71, Abu Dhabi’s tech incubator, supports startup growth by providing essential resources, fostering connections with potential partners and investors, and aiding compliance with local regulations.

Kim highlighted the challenges faced by South Korean startups in expanding domestically, such as a declining population, which has spurred their need to venture abroad. Meanwhile, the UAE has been actively working on establishing clear regulations for its crypto ecosystem, attracting attention from major industry players like Binance and Coinbase.

UAE’s Regulatory Environment and Crypto Ecosystem

Established in 2017, the South Korean crypto venture capital firm has invested in several notable Web3 projects, including Yuga Labs, the creator of Bored Ape Yacht Club, dYdX decentralized exchange, Axie Infinity play-to-earn game, and the unsuccessful TerraUSD stablecoin.

Hashed, which has already set up offices in San Francisco and Singapore, plans to further extend its global presence, as reported.

Both Hashed and Hub71 have yet to comment in response to inquiries from The Block.

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