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Hashed Ventures, a leading South Korean cryptocurrency company, has announced plans to expand its operations to Abu Dhabi, leveraging the city's innovative regulatory environment to foster global growth and attract further investments.
Hashed Ventures Announces Strategic Expansion to Abu Dhabi, Partnering with Hub71 for Global Growth
In a recent report by CoinGape, Hashed Ventures, a digital asset firm headquartered in South Korea, has disclosed its intention to expand to Abu Dhabi, citing broader expansion objectives. With its innovative and transparent crypto policies, the Abu Dhabi market continues to draw numerous companies' attention. Hashed Ventures' expansion promises to bring additional South Korean firms to the Abu Dhabi ecosystem, fostering growth and innovation in the local market.
The company's expansion to Abu Dhabi is a strategic move involving establishing regulations and a partnership with Hub71, the country's technology ecosystem. With over $700 million in assets under management and established facilities in Singapore and San Francisco, the crypto investment firm is expanding its reach. Simon Seo-Joon Kim, the CEO of Hashed Ventures, has disclosed that the organization is exploring fundraising prospects in Abu Dhabi, further demonstrating the company's strategic approach.
The expansion to Abu Dhabi is a testament to the company's resilience and commitment to growth. It occurred amid the company's struggles with local expansion due to the declining population in Korea and other factors. Hashed Ventures is determined to overcome these challenges and continue its growth trajectory in the global market.
“For the Korean startup, the mission to expand their business abroad is quite mandatory because the biggest problem in Korea is our population is decreasing. But I believe that talent-wise, the Korean entrepreneur is one of the best in the world, so we have to expand our business abroad.”
Kim stated that the organization is presently in the process of integrating several South Korean companies, which are valued at $1 billion, into Abu Dhabi. Yuga Labs, dYdX, and Axie Infinity are among the portfolio companies for which Hashed is recognized.
Abu Dhabi's Web3-Friendly Policies and $2 Billion Program Attract Major Crypto Companies and Startups
Over the past few years, Abu Dhabi has stood out as a web3-friendly metropolis, which has attracted investors to the city. The UAE has intensified its efforts to attract crypto companies, such as Binance and OKX, by implementing a $2 billion program to finance web3 firms within its Hub71 ecosystem.
Ahmad Ali Alwan, the CEO of Hub71, explained the prospects of South Korean startups and other firms in Abu Dhabi. “We are excited about the prospect of welcoming more Korean startups to Abu Dhabi and attracting the most promising Web3 and digital asset technologies to the UAE capital.”
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