Fun

South Korean crypto firm Hashed Ventures expands to Abu Dhabi: Report

News Feed - 2024-06-27 03:06:10

Tom Mitchelhill2 hours agoSouth Korean crypto firm Hashed Ventures expands to Abu Dhabi: ReportHashed Ventures said it’s in talks with other South Korean crypto firms to help bring them to Abu Dhabi.1122 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksSouth Korean crypto investment firm Hashed Ventures is expanding into Abu Dhabi after inking a partnership with the city’s tech ecosystem group, Hub 71. 


Bloomberg reported on June 27 that Hashed CEO Simon Seo-Joon Kim said his firm will open an office in the city and has entered into talks with other major South Korean crypto firms to help bring them into the emerging United Arab Emirates crypto market.


The Seoul-based venture capital firm is one of the largest crypto companies to make its way to the UAE’s capital, which has been increasing its efforts to bring in crypto talent.


Kim said while he believes Korean crypto entrepreneurs to be among the best in the world, a declining local population and other difficulties in the country’s domestic market make overseas locations such as the UAE more desirable to crypto founders.


Kim added he was already in the process of helping other South Korean companies with valuations of over $1 billion make the jump to Abu Dhabi.


“UAE is a very special market for us because [...] regulatory wise, Abu Dhabi has the most friendly and clear guidance for the Web3 startups,” Kim said.“So these days, so many Web3 startups are opening Abu Dhabi offices.”


On Feb. 15, Hub 71 announced a digital asset initiative that will back blockchain and crypto projects that come to the city which have more than $2 billion in capital.


Related:Nomura crypto arm Laser Digital bags Abu Dhabi license


At the time, Hub 71 said it would look to provide crypto startups with state-of-the-art infrastructure as well as a more progressive and clear regulatory environment domestically.


Hashed was founded in 2017 and manages around $700 million in assets globally.


The firm has made a series of investments in some notable crypto projects, including the play-to-earn game Axie Infinity, perpetual trading platform dYdX, and Bored Ape Yacht Club creator Yuga Labs.


X Hall of Flame —Polygon never set out to beat Ethereum: Anurag Arjun# Cryptocurrencies# UAE# Business# Venture Capital# Investments# Adoption# South Korea# Cryptocurrency InvestmentAdd reaction

News Feed

BTC price chart shows Bitcoin can match $49.5K lows within days
William Suberg10 hours agoBTC price chart shows Bitcoin can match $49.5K lows within daysBTC price action has a habit of “filling” downside wicks within days or weeks, the Bitcoin daily chart shows.5058 Total views17
FCA busts suspects in a $1.2B illegal crypto asset business
Savannah Fortis15 minutes agoFCA busts suspects in a $1.2B illegal crypto asset businessFCA arrests two suspects involved in a $1.2 billion illegal crypto asset exchange, highlighting the agency"s efforts to combat finan
World’s Largest Ethereum Mining Pool to Drop Ether PoW Mining, Ethermine Starts Merge Countdown
World"s Largest Ethereum Mining Pool to Drop Ether PoW Mining, Ethermine Starts Merge Countdown The world’s largest ethereum mining pool, Ethermine, has announced the organi
Phoenix and Wasabi exit US market amid self-custody wallet crackdown
Ciaran Lyons8 hours agoPhoenix and Wasabi exit US market amid self-custody wallet crackdownRecent regulatory action against Consensys and Samourai has instilled fear among other crypto service providers operating in the
US Senators Seek to Forbid American Athletes From Receiving and Using Digital Yuan During Beijing Olympics
US Senators Seek to Forbid American Athletes From Receiving and Using Digital Yuan During Beijing Olympics Three U.S. senators have urged the United States Olymp
Metaverse Real Estate Sales to Grow by $5 Billion by 2026
Metaverse Real Estate Sales to Grow by $5 Billion by 2026 The real estate market in the metaverse is projected to pass $5 billion by 2026. This is the prediction of the latest meta
European Commissioner Says Impact of SVB Collapse ‘Limited’ as Credit Suisse Drags Down Banking Stocks
European Commissioner Says Impact of SVB Collapse "Limited" as Credit Suisse Drags Down Banking Stocks Silicon Valley Bank’s (SVB) collapse has had a “limited impact
US Federal Reserve Actively Working on Digital Dollar
US Federal Reserve Actively Working on Digital DollarThe Federal Reserve Board of Governors and several Federal Reserve Banks are actively working on the digital dollar. Legislation
Southeast Asia’s Largest Bank DBS Plans to Launch a Cryptocurrency Exchange
Southeast Asia"s Largest Bank DBS Plans to Launch a Cryptocurrency Exchange The Singaporean multinational banking and financial services corporation DBS publishe
CFTC chair warns of conflict with SEC over Prometheum’s ETH play
Jesse Coghlan8 hours agoCFTC chair warns of conflict with SEC over Prometheum’s ETH playSEC-registered broker Prometheum could force the agency to decide if Ether is a security and CFTC chair Rostin Behnam says that co
Nigerian Presidential Hopeful’s Party Says It Will Review Country’s Blockchain and Crypto Policy if Elected
Nigerian Presidential Hopeful"s Party Says It Will Review Country"s Blockchain and Crypto Policy if Elected The party of the Nigerian presidential hopeful Asiwaju Bola Tinubu has p
Biggest Movers: ETC Surges 14% to Hit 6-Week High on Saturday
Biggest Movers: ETC Surges 14% to Hit 6-Week High on Saturday Ethereum classic was one of the biggest movers to start the weekend, as prices surged to a six-week high. The move saw