South Korea-based crypto venture capital firm Hashed has secured a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). The license authorizes its subsidiary, Hashed Global Management Limited (HGML), to conduct regulated financial activities within the ADGM, a special economic zone and international financial center in the UAE capital.
The FSP permits HGML to advise on investments or credit, arrange deals in investments, manage assets, and manage a collective investment fund. These activities are strictly limited to professional and institutional market participants, not retail investors.
"This permission lays the groundwork for HGML to collaborate with Middle Eastern institutional investors within a regulated environment," said Seokwon Hong, licensed director and senior executive officer of HGML, in a press release.
With the license, Hashed plans to serve as a strategic bridge between the UAE and Korea, aiming to deepen investment connectivity, expand cross-border partnerships, and foster collaboration between regional capital and global founders, companies, and ecosystems. "This milestone underscores the growing momentum we are seeing as leading firms choose ADGM and Abu Dhabi to establish and scale their regional operations," added Arvind Ramamurthy, chief market development officer of ADGM.
Hashed, which has investments in over 300 blockchain projects including Terra and Axie Infinity, has pivoted toward regulatory compliance following industry turbulence. The license positions it to attract institutional capital from pension funds, sovereign wealth funds, and insurance companies that require regulated frameworks. Other major crypto firms such as Binance, Circle, and Tether have also obtained permissions to operate in Abu Dhabi, reflecting the region's focus on regulated innovation in digital finance.
