Mubadala Capital has brought one of its private markets investment funds onchain, making the asset management arm of Abu Dhabi’s sovereign wealth fund one of the latest major financial firms to embrace tokenization.
The alternative asset manager, which oversees about $430 billion in assets, said Thursday it launched a tokenized version of one of its private markets strategies for qualified investors using infrastructure from KAIO, a UAE-based tokenization specialist.
The fund is available on Coinbase’s Base network, Solana and Sui and has already attracted about $75 million in onchain assets, according to the companies.
Coinbase is also taking exposure to the fund on its own balance sheet, an early example of a publicly traded crypto company investing in a tokenized private markets product. The companies didn’t disclose the size of the investment.
As traditional banking businesses seek to update fund infrastructure, tokenization has emerged as one of the fastest-growing areas of digital assets. Tokenized assets across all asset classes could reach $18.9 trillion by 2033, according to Boston Consulting Group and Ripple, while Citi previously predicted that tokenized securities could increase to about $5.5 trillion by 2030.
The launch also fits into the UAE’s broader ambition to become a hub for tokenized finance. Abu Dhabi and Dubai have emerged as some of the most active jurisdictions for digital assets, with regulators rolling out crypto frameworks while banks, sovereign-backed investors and financial firms increasingly experiment with tokenized funds, bonds and stablecoins.
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