Hashed Global Management Limited (HGML) has obtained a Financial Services Permission (FSP) from Abu Dhabi's Financial Services Regulatory Authority (FSRA). The license allows Hashed to manage assets and collective investment funds, advise on investments, and arrange deals from its new Abu Dhabi Global Market (ADGM) base. The move positions Hashed as a strategic bridge between the UAE/GCC capital markets and its innovation networks anchored in Korea and extending across Asia.
South Korean venture capital firm Hashed has secured a Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM), positioning the financial center as its official base for institutional operations across the United Arab Emirates and the wider GCC region.
"This permission lays the groundwork for HGML to collaborate with Middle Eastern institutional investors within a regulated environment," Seokwon Hong, Licensed Director and Senior Executive Officer at HGML, said in a statement. "Through our partnership with ADGM, we will work together to help shape both policy and the market.”
The license authorizes Hashed’s local entity, Hashed Global Management Limited (HGML), to conduct a full suite of regulated financial activities, including advising on investments, arranging deals, managing assets, and managing a collective investment fund. The approval sees Hashed join other major crypto firms like Binance, Circle, and Tether in receiving permissions to operate within ADGM’s jurisdiction.
The move solidifies Hashed's role as a strategic link between Gulf capital and Asian technology ecosystems, aiming to deepen investment connectivity and cross-border partnerships. "This milestone underscores the growing momentum we are seeing as leading firms choose ADGM and Abu Dhabi to establish and scale their regional operations," said Arvind Ramamurthy, Chief Market Development Officer at ADGM.
With the new license, Hashed plans to leverage its presence in ADGM to connect its global network of founders and companies with local institutional investors. The firm, which operates offices in Seoul, San Francisco, Singapore, and Bangalore, views Abu Dhabi as a critical hub for its expansion into the Middle East.
This development follows Hashed's previous engagement in the region. In 2025, the firm co-hosted the “Web3 Leaders Roundtable” with ADGM's Emerging Tech division during Abu Dhabi Finance Week. The event brought together representatives from global institutions including BlackRock, Circle, Consensys, and the Solana Foundation to discuss the convergence of AI and blockchain infrastructure.
ADGM has established itself as a leading international financial center by creating a progressive regulatory framework for digital assets under its Financial Services Regulatory Authority (FSRA). This clarity has attracted significant investment and talent to the UAE.
The country's embrace of digital assets is reflected in its high adoption rates. A 2025 study found that 25.3% of the UAE population owns cryptocurrency, one of the highest rates globally. In 2024, UAE-based startups led the MENA region by raising $1.1 billion across 207 deals, cementing the nation's status as a premier destination for technology and financial innovation.
This article is for informational purposes only and does not constitute investment advice.
