Hashed Secures ADGM Financial License to Step Up Middle East Expansion

Global Web3 venture capital firm Hashed said on April 30 that its Abu Dhabi entity, Hashed Global Management Ltd. (HGML), received a Financial Services Permission from the Financial Services Regulatory Authority of Abu Dhabi Global Market in the United Arab Emirates.

The approval authorizes HGML to conduct regulated financial activities within ADGM, including investment and credit advisory, arranging investment deals, asset management and managing collective investment vehicles.

Hashed plans to use ADGM as a key hub for its operations in the Middle East and the Gulf Cooperation Council region. It aims to deepen its role connecting global capital with local institutional investors and to link the Web3 network it has built primarily in Asia with Middle Eastern markets to broaden investment and business partnerships.

ADGM is regarded as an international financial hub with an advanced regulatory framework for digital assets and fintech. Hashed said it plans to use that regulatory environment to expand collaboration with local institutions and build a long-term business foundation.

"Abu Dhabi is a city at the forefront of global digital financial infrastructure," Chief Executive Officer Kim Seo-jun said. Securing an official operating base under ADGM's regulatory framework shows Hashed's commitment to building a long-term business in the region based on trust, he added.

Hong Seok-won, a Hashed partner who serves as HGML's senior executive officer, said the approval is meaningful because it lays the groundwork for broader collaboration with Middle Eastern institutional investors in a regulated environment. He added that the firm plans to work with ADGM to help shape both policy and the market.

Arvind Ramamurthy, ADGM's chief market development officer, congratulated HGML on obtaining the license. The approval shows momentum is accelerating as leading companies increasingly choose ADGM and Abu Dhabi to establish and expand regional operations, he said. ADGM will continue to provide a trusted, forward-looking regulatory environment and a world-class ecosystem that supports innovation, strengthens cross-border connectivity and enables long-term growth, he added.

Hashed has been expanding its ties with the Middle East, including by co-hosting a Web3 Leaders Roundtable with ADGM during Abu Dhabi Finance Week last year. Participants included the Abu Dhabi Investment Authority, as well as DTCC, Franklin Templeton, BlackRock, Circle, Consensys and the Solana Foundation. The discussions were later published in a policy report.