Venture capital powerhouse Hashed Ventures is broadening its horizons with a strategic move into Abu Dhabi, forging a partnership with the eminent tech incubator Hub71. This collaboration marks a significant milestone for Hashed Ventures, as disclosed by Edward Hong, the Chief Platform Officer, in a conversation with CryptoNews. This venture underscores Abu Dhabi’s burgeoning reputation as a nexus of tech innovation and a hotbed for blockchain advancements.
**Delving into Hub71’s Mission**
At the heart of Abu Dhabi’s tech revolution is Hub71, a government-supported ecosystem that mirrors the innovative spirit of Silicon Valley. Hub71’s mission is to nurture and propel startups and tech enterprises by providing a robust support network, including funding, mentorship, and access to markets. This makes it a magnet for tech and cryptocurrency entities, bolstered by partnerships spanning diverse sectors and the support of entities like Mubadala Investment Company. Hub71 is committed to equipping startups with office space, essential resources, and networking conduits.
**Hashed Ventures’ Strategic Investments**
With its roots in Seoul, Hashed Ventures boasts an extensive investment portfolio in the realms of blockchain and cryptocurrency. Renowned for its support of nascent crypto endeavors, the VC firm has placed bets on a slew of prominent ventures, including Ethereum, Klaytn, and Terra. By extending its reach to the Middle East, Hashed Ventures seeks to leverage Hub71’s strategic position and offerings to bolster its portfolio companies and scout for fresh investment prospects within the Middle East and North Africa (MENA) region.
**Crypto Pioneers at Hub71**
Hub71 serves as a base for several leading crypto firms. Among them is MidChains, a regulated digital asset exchange that benefits from Abu Dhabi’s forward-thinking regulatory landscape. MidChains is dedicated to creating a secure and transparent trading milieu for digital assets. Another key player is Blocko, which focuses on delivering enterprise blockchain solutions from within Hub71.
A pivotal force in the region is Binance, the colossal crypto exchange that continues to extend its global reach. Its presence in Abu Dhabi, through strategic local partnerships, highlights the emirate’s critical role in the international crypto sphere. Notably, in 2023, Binance’s BV Investment Management withdrew its application with Abu Dhabi’s financial watchdog, as reported by Reuters.
Esteemed investors like Jamie Dimon, Ray Dalio, and Alan Howard have recognized Abu Dhabi’s ascent as a Global Finance Centre. Stay updated with us on Google News.
