Hacken, a blockchain security auditing firm, has forged a strategic alliance with Klumi Ventures, recently regulated Web3 venture capital firm based in Abu Dhabi Global Market (ADGM). As per the press release the partnership is poised to establish new benchmarks in blockchain security and compliance, capitalizing on the formidable security expertise of Hacken and the financial licensing of Klumi Ventures in UAE.

Prior to this Hacken signed an MOU with ADGM to set benchmarks for security and compliance.

Klumi Ventures recently announced the launch of a $15 million investment fund aimed at fostering the Web3 ecosystem in ADGM. This initiative focuses on providing pre-seed and seed investments for emerging Web3 startups. It is the sole web3 VC and Fund Manager regulated by ADGM. It stands at the forefront of the region’s burgeoning blockchain ecosystem, offering comprehensive support to early-stage startups

Hacken and Klumi Ventures aim to cultivate a secure and regulated framework for capital deployment, with the overarching goal of positioning ADGM as a global hub for blockchain innovation, renowned for its stringent security and compliance protocols.

“Klumi Ventures collaboration with Hacken signifies a paradigm shift in blockchain security and compliance. By blending regulatory prowess with cutting-edge cybersecurity expertise, we’re charting new territory in establishing global benchmarks for safety and trust in the blockchain industry as a fund manager. This alliance underscores our shared commitment to pioneering innovative solutions that elevate transparency, security, and regulatory excellence in the digital assets landscape” stated Kristiina Lumeste, Senior Executive officer of Klumi Ventures.

The scope of the partnership includes creating a Security-First Blockchain Environment in ADGM. The partnership harnesses Hacken’s extensive cybersecurity expertise to establish new global standards in blockchain safety. Through this collaboration, all blockchain initiatives driven by Klumi Ventures within the ADGM will meet the highest security standards, creating a secure and stable environment for innovation.

In addition will be the continuous monitoring for Klumi Ventures Portfolio. Hacken’s advanced on-chain monitoring technologies will be deployed across the new and existing Klumi Ventures’ portfolio companies, providing real-time security assessments and ensuring continuous compliance with ADGM’s standards.

Finally the partnership will significantly enhance the blockchain community’s expertise within ADGM. By organizing a variety of educational initiatives such as workshops, seminars, and webinars, the collaboration will empower local and regional blockchain professionals. These events are designed to impart best security practices and introduce the latest innovations in blockchain technology, cultivating a knowledgeable and skilled workforce.

Dyma Budorin, Hacken Co-Founder & CEO stated, “Hacken is impressed by Abu Dhabi’s steadfast commitment to prioritizing security in developing its local blockchain ecosystem. We are honored to stand as a partner in this endeavor. Our collaboration with Klumi Ventures marks another significant stride toward forging a secure and dependable Web3 landscape within the region. Drawing from our extensive 7-year experience in collaborating with the world`s top crypto brands, we are dedicated to leveraging our best practices to ensure the safety and integrity of every project within the Klumi Ventures portfolio.”

Together, Hacken and Klumi Ventures are setting a new standard for blockchain ventures in the region, emphasizing security, compliance, and community engagement as pillars of their strategic partnership. This collaboration not only enhances the value of the Web3 ecosystem within ADGM but also ensures it is a safe, innovative, and thriving environment for all stakeholders.