Hashed Expands Operations to Abu Dhabi
Hashed, a cryptocurrency venture firm from South Korea, has recently announced that it has obtained a regulatory green light to launch its operations within the Abu Dhabi Global Market (ADGM), a recognized financial district in the Middle East. This marks a significant expansion of the firm’s global reach.
Regulatory Approval and Services Offered
The approval comes through its subsidiary, Hashed Global Management Limited, which has been granted Financial Services Permission from ADGM. This license empowers the company to facilitate a range of regulated services, including:
- Investment advisory
- Asset management
- Credit arrangement
- Management of collective investment funds
With this authorization, Hashed Global Management Limited is positioned to work with institutional investors under the compliant framework governed by ADGM’s Financial Services Regulatory Authority (FSRA), which oversees the licensing and regulatory obligations of financial entities.
Opportunities for Collaboration
Seokwon Hong, the licensed director and senior executive officer at Hashed Global, remarked that this license creates valuable opportunities for collaboration with institutional investors in the region’s regulated setting.
The firm aims to bridge investment opportunities between the UAE and South Korea while also fostering partnerships across diverse markets and ecosystems.
ADGM as a Cryptocurrency Hub
Abu Dhabi has increasingly gained attention from international cryptocurrency companies seeking a clear regulatory environment. As a special economic zone, ADGM benefits from its independent legal framework, attracting firms looking to grow within a structured system.
“This achievement emphasizes the increasing interest and activity being attracted to ADGM as top-tier firms seek to establish and expand their operations in the region,” commented Arvind Ramamurthy, the chief market development officer at ADGM.
Notable firms such as Binance, Circle, and Tether have recently received similar approvals, indicating a trend of major players entering this jurisdiction through regulated channels. Additionally, in March, Ondo Finance obtained approval from ADGM to introduce a trading platform for tokenized U.S. stocks and ETFs, allowing transactions of stocks from notable companies like Amazon, Apple, Microsoft, and Tesla outside of the U.S.
This surge in licensed operations highlights the potential for ADGM to become a pivotal hub for cryptocurrency-related businesses in the Middle East.
