just now
Korea-headquartered global venture capital firm Hashed has secured a Financial Services Permission for its Hashed Global Management Limited (HGML) entity from the Financial Services Regulatory Authority of Abu Dhabi Global Market.
Founded in Seoul in 2017 by CEO Simon Kim and a small group of co-founders, Hashed is one of Asia's most prominent crypto and Web3-focused venture capital firms, with a secondary hub in San Francisco. The firm has been an early backer of a long list of widely recognised projects including Aptos, Klaytn, The Sandbox, Sky Mavis, dYdX, Near, Polygon and Animoca Brands, and has raised multiple funds across Korean won and US dollar vehicles. Hashed is deeply embedded in the Korean tech and policy ecosystem, including engagement with regulators on virtual asset frameworks, and was a key driver behind Korea Blockchain Week becoming one of the major global crypto events. The ADGM permission marks the firm's first regulated entity in the Gulf and a clear signal of intent to engage directly with GCC institutional capital, including sovereign wealth, family offices and regional asset managers, rather than deploying solely from Korea-domiciled vehicles.
The permission authorises HGML to conduct regulated financial activities in or from ADGM, including advising on investments or credits, arranging investment deals, managing assets, and operating collective investment funds. The Group has confirmed that ADGM will serve as its official base for institutional operations across the UAE and the wider GCC region.
Bridge between Korea, Asia and the Gulf
The wider strategic positioning is what makes the announcement notable. Hashed has built a profile in Asia as one of the more active venture investors at the intersection of blockchain infrastructure, tokenisation and AI, with portfolio exposure across Korea-led founder networks. The ADGM permission gives the firm a regulated footprint from which to channel that pipeline into Gulf institutional capital.
The Group has framed its UAE entity as a strategic bridge between regional institutional investors in the GCC and innovation networks anchored in Korea and Asia, with the stated intention of deepening cross-border investment connectivity and supporting long-term collaboration between regional capital and globally connected founders.
"Abu Dhabi is a city at the forefront of global digital financial infrastructure. Establishing an official business foundation under ADGM's regulatory framework reflects Hashed's commitment to building a trust-based business in this region for the long term."
Simon Kim
CEO, Hashed
"This permission lays the groundwork for HGML to collaborate with Middle Eastern institutional investors within a regulated environment. Through our partnership with ADGM, we will work together to help shape both policy and the market."
Seokwon Hong
Licensed Director and Senior Executive Officer, HGML
"We congratulate HGML on receiving its FSP. This milestone underscores the growing momentum we are seeing as leading firms choose ADGM and Abu Dhabi to establish and scale their regional operations. ADGM remains committed to providing a trusted, forward-looking regulatory environment and a world-class ecosystem that supports innovation, strengthens cross-border connectivity, and enables long-term growth."
Arvind Ramamurthy
Chief Market Development Officer, ADGM
Building on existing ADGM relationship
The FSP follows an existing working relationship between Hashed and ADGM. The two organisations co-hosted a "Web3 Leaders Roundtable" during Abu Dhabi Finance Week 2025, focused on the convergence of AI and blockchain financial infrastructure, with participants including ADIA, DTCC, Franklin Templeton, BlackRock, Circle, Consensys and the Solana Foundation. The discussion outcomes were subsequently published as a policy report.
Abu Dhabi Global Market is the international financial centre of Abu Dhabi, operating under an English common law framework with its own regulatory authority, the FSRA, and court system. ADGM has positioned itself as one of the more progressive regulatory jurisdictions for digital assets, fintech and tokenisation, and continues to attract a growing roster of asset managers, exchanges and infrastructure firms.
Found this interesting? Become a member of LiquidityFinder and get daily industry news direct to your inbox - join here.
