South Korean crypto investment firm Hashed Ventures has announced plans to expand its operations to Abu Dhabi, the capital of the United Arab Emirates. This decision is driven by Abu Dhabi's favorable regulatory environment and its growing ecosystem for web3 and digital asset businesses.

Hashed Ventures, with over $700 million in assets under management, currently has offices in Singapore and San Francisco. The company's CEO, Simon Seo-Joon Kim, cited the need to spread its global reach and the challenges faced by Korean startups due to the country's declining population as key factors behind the expansion.

Abu Dhabi's Crypto-Friendly Policies Attract Hashed Ventures

The UAE, including Abu Dhabi, has made concerted efforts to attract cryptocurrency companies, with initiatives such as the Hub71 program, which offers a $2 billion fund to support web3 firms. This has made Abu Dhabi an attractive destination for global crypto firms seeking a clear regulatory environment and a thriving ecosystem.

Hashed Ventures plans to leverage Abu Dhabi's ecosystem to explore fundraising opportunities and onboard South Korean companies valued at $1 billion or more. The firm is known for its investments in prominent crypto projects, including Yuga Labs, dYdX, and Axie Infinity.

Ahmad Ali Alwan, the CEO of Hub71, expressed excitement about the prospect of welcoming more Korean startups to Abu Dhabi, stating that the city is committed to attracting the most promising web3 and digital asset technologies.

A Promising Future for Crypto in Abu Dhabi

Abu Dhabi's clear regulatory policies and its commitment to fostering a thriving web3 ecosystem have made it an attractive destination for global crypto firms. The city's efforts to attract investment and talent in this space are expected to continue, further solidifying its position as a leading hub for digital asset innovation.

The expansion of Hashed Ventures to Abu Dhabi represents a significant milestone, as it showcases the city's growing appeal to South Korean crypto companies seeking new opportunities for growth and development.