As an analyst with experience in the cryptocurrency industry, I see Hashed Ventures’ expansion into Abu Dhabi as a strategic move that aligns with current market trends and regulatory environments. The partnership with Hub71 is a smart decision given the favorable crypto regulations and the presence of established players like Binance and OKX in the region.
Hashed Ventures, a South Korean crypto investment firm led by CEO Simon Kim, plans to establish a presence in Abu Dhabi through a collaboration with Hub71. The partnership intends to set up an office and pursue potential fundraising prospects within the city. (Source: Bloomberg)
As a financial analyst at a firm managing over $700 million in assets, I can tell you that we find the Abu Dhabi market attractive due to its clear-cut and forward-thinking regulatory approach towards cryptocurrencies.
As an analyst, I would put it this way: In alignment with our strategic expansion goals, Hashed Ventures is set to establish a new presence at Hub71 in Abu Dhabi. Having already solidified our footing in Singapore and San Francisco, we aim to leverage the opportunities presented by this international location to broaden our reach and grow our business.
“Given the decreasing population trend in Korea, it is essential for startups to grow their businesses overseas. In my opinion, Korean entrepreneurs possess exceptional talent, making it crucial for us to expand and showcase our capabilities on the global stage.”
Hashed Ventures aims to explore funding prospects in Abu Dhabi. The venture plans to bring aboard South Korean companies valued at over a billion dollars, integrating them into the ecosystem. Meanwhile, they will showcase their investment portfolio featuring Yuga Labs, dYdX, and Axie Infinity.
In Abu Dhabi, the regulations are explicitly stated and the business climate is favorable to the crypto sector, resulting in a significant presence of prominent players like Binance and OKX, alongside newcomers. Hub71 has initiated a substantial $2 billion investment scheme particularly for Web3 companies.
Ahmad Ali Alwan, the CEO of Hub71, expressed his anticipation for an increase in South Korean startups settling in Abu Dhabi. “We are thrilled about the possibility of bringing more Korean startups to Abu Dhabi and drawing the most innovative Web3 and digital asset technologies to the UAE capital,” Alwan shared.
Hub71 represents Hashed Ventures’ commitment to capitalize on Abu Dhabi’s favorable cryptocurrency regulations and expand their global reach. This move underscores their confidence in Abu Dhabi’s significance within the digital asset industry.
Read More
Sorry. No data so far.
2024-06-27 08:58