Abu Dhabi’s Mubadala Capital joins tokenization push as Coinbase takes stake in onchain fund
The sovereign wealth-backed asset manager tapped KAIO to bring one of its private market funds onchain across Base, Solana and Sui networks.
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Summary
- Mubadala Capital has launched a tokenized version of one of its private markets strategies for qualified investors, using infrastructure from UAE-based tokenization firm KAIO.
- The fund, available on Coinbase’s Base network, Solana and Sui, has already attracted about $75 million in onchain assets, and Coinbase is taking exposure to it on its own balance sheet.
- Mubadala’s move adds to a growing wave of major asset managers embracing tokenized funds, as Wall Street projects trillions of dollars in tokenized securities and the UAE positions itself as a hub for tokenized finance.
