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Sunday, September 24, 2023

Investing In The Crypto Ecosystem: CEO Of UAE Wealth Fund Mubadala

Mubadala Investment Company, a sovereign wealth fund in the United Arab Emirates, is considering investments in the “crypto ecosystem,” CEO Khaldoon Al Mubarak told CNBC.

  • “I think it (crypto) is real. This is a business that had $200 billion worth of value two years ago, and is $2.5 trillion value today and growing. So while many people are skeptics, I do not fall in that category,” Al Mubarak said.
  • He added that the evolving regulatory environment would help crypto transition into something new. Mubadala has AED 894 billion (US$243 billion) in assets under management and is one of the largest wealth funds in UAE and the world.
  • Al Mubarak said that the Abu Dhabi-headquartered fund is investing in the ecosystem around crypto, be it blockchain, energy usage, without giving further details.
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