South Korean venture capital firm Hashed Ventures is broadening its operations by partnering with Abu Dhabi’s global tech ecosystem.
According to Edward Hong, the chief platform officer at Hashed Ventures, the firm has teamed up with Hub71 in Abu Dhabi, marking a strategic move reported by CryptoNews.
This expansion highlights Abu Dhabi’s evolving role as a center for technological innovation and blockchain development.
Understanding Hub71’s Role in Abu Dhabi
Hub71, a state-backed tech ecosystem in Abu Dhabi, functions similarly to Silicon Valley hubs, aiming to stimulate innovation and support startups and technology firms. It offers comprehensive support, including funding, mentorship, and market access, making it an appealing destination for technology and cryptocurrency enterprises.
Hashed Ventures’ Investments
Based in Seoul, Hashed Ventures boasts a substantial portfolio in blockchain and crypto investments, particularly in early-stage projects like Ethereum, Klaytn, and Terra. The firm’s entry into the Middle East aims to leverage Hub71’s strategic location and resources to nurture and expand its portfolio companies, while also exploring new investment prospects across the Middle East and North Africa (MENA) region.
Crypto Firms Based in Hub71
Hub71 hosts several prominent crypto firms, including MidChains, a regulated digital asset trading platform. MidChains benefits from Abu Dhabi’s progressive regulatory framework, ensuring a secure trading environment. Additionally, enterprise blockchain solutions provider Blocko operates within Hub71.
Another significant player in the Middle East is Binance, one of the world’s largest crypto exchanges, which has strengthened its global presence by collaborating with local entities in Abu Dhabi, underscoring the emirate’s strategic importance in the global crypto market.
In 2023, Binance’s BV Investment Management unit withdrew its application with Abu Dhabi’s financial regulator, as reported by Reuters.
The post Hashed Ventures Expands to Abu Dhabi Through a Partnership With Hub71 appeared first on Cryptonews.
