South Korea-based crypto venture capital firm Hashed has secured a Financial Services Permission from the Abu Dhabi Global Market (ADGM), the financial hub of the United Arab Emirates.

The license allows group entity Hashed Global Management Limited (HGML) to conduct regulated financial activities in or from ADGM, such as advising on investments or credits, arranging deals in investments, managing assets, and managing a collective investment fund.

"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 of HGML, said in a press release.  

With the license, Hashed plans to solidify its role as a strategic bridge between the UAE and Korea. Specifically, it aims to deepen investment connectivity, expand cross-border partnership opportunities, 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," said Arvind Ramamurthy, chief market development officer of ADGM.

ADGM functions as a special economic zone and international financial center in the UAE capital, operating under its own legal and regulatory system. The Financial Services Regulatory Authority acts as the primary regulator and licensing body for firms operating within the zone.

In recent months, Binance, Circle, and Tether have obtained permissions to operate in Abu Dhabi, reflecting growing interest among major crypto players in the region's focus on regulated innovation in digital finance.