Tech
South Korean cryptocurrency firm Hashed Ventures partners with Hub71 to expand into Abu Dhabi
Hashed Ventures, a South Korean cryptocurrency company, plans to expand its services and operations in Abu Dhabi. The company is leveraging its latest partnership with Hub71, a leading technology ecosystem in Abu Dhabi.
The proposed expansion is in line with Hashed’s goals to create more tech and crypto startups in the UAE market. It also highlights Abu Dhabi as a growing blockchain technology and innovation hub.
Hashed Ventures Expands Cryptocurrency Presence
According to Bloomberg report On June 26, Hashed Ventures CEO Simon Seo-Joon Kim announced the latest expansion plan. Kim said the company will open an office in Abu Dhabi and is negotiating with major South Korean crypto entities to attract them into the UAE cryptocurrency market.
Kim also rated the UAE as one of the places abroad with a favorable environment for cryptocurrency founders.
He mentioned that the declining local population in South Korea dampens the efforts of crypto entrepreneurs despite their expertise. Additionally, the country’s local crypto market has several bottlenecks and challenges that limit the full potential of crypto founders.
In particular, the UAE has been working to attract large and innovative crypto entities to participate in its growing market.
Hashed Ventures is one of the largest cryptocurrency companies moving forward in Abu Dhabi. The company wants to help other South Korean entities establish themselves in the UAE market. To assist in this transition, it targets companies with over 41 billion market valuations.
Additionally, CEO Kim confirmed the company’s plans to have a major impact on the city. He acknowledged that several crypto and Web3 startups are currently migrating to Abu Dhabi.
Kim cited the UAE’s special market and regulatory clarity as an attractive advantage for digital assets. blockchain startup.
In his words: “Abu Dhabi has the friendliest and clearest guidance for Web3 startups.”
Founded in 2017, Hashed Ventures has backed early-stage digital asset projects and invested in major platforms such as Ethereum, Terra, and Klaytn.
Importance of Hub71 in Hashed Expansion in Abu Dhabi
Hashed Ventures plans to expand into Abu Dhabi by leveraging its partnership with Hub71. It will rely on Hub71’s strategic resources and location to facilitate its portfolio of companies and startups in Abu Dhabi.
The partnership will help Hashed explore new investment opportunities in the region.
Hub71 is a major state-backed global technology ecosystem in Abu Dhabi, comprising several major crypto entities. Its features promote innovation and provide support to technology companies and startups.
Some of its operations are cross-functional, allowing entities to access funding, market opportunities and mentorship. Additionally, Hub71’s broad support positions it as a one-stop shop for many digital asset and blockchain companies.
In addition, Hub71 provides its fleet of companies with networking opportunities, office space and other resources. The technology ecosystem has previously partnered with many companies across different industries, including Mubadala Investment Company.
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile and high-risk asset class.
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