Abu Dhabi sovereign fund eyes investments in crypto startups

The Abu Dhabi sovereign wealth fund Mubadala Investment Company is weighing investments in a ‘cryptocurrency ecosystem’. Its CEO Khaldoon Al Mubarak said so.

Mubadala’s CEO tells CNBC he’s not a crypto skeptic pic.twitter.com/rfT5nLjqur

— CNBC Middle East (@CNBCMiddleEast) December 13, 2021

«[Крипто] […] это бизнес, стоимость которого два года назад составляла $200 млрд, а сегодня достигла $2,5 трлн. В то время как многие остаются скептиками, я не отношусь к этой категории», — заявил он.

According to the executive, the regulatory framework forming in the country will allow digital assets to become something new.

Khaldoon Al Mubarak did not disclose details of investment plans, but said they would touch areas related to cryptocurrencies, such as blockchain and energy consumption.

Mubadala manages assets worth 894 billion dirhams ($243 billion).

In September, the Dubai regulator approved cryptocurrency trading in the free zone.

In July, the UAE central bank announced the development of its own digital currency in the Development Strategy for 2023-2026.

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