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UAE Wealth Fund Mubadala Investing in Crypto Ecosystem: CEO
While “many people are skeptics, I do not fall in that category,” said CEO Khaldoon Al Mubarak.
Updated May 11, 2023, 7:02 p.m. Published Dec 13, 2021, 7:53 a.m.
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Mubadala Investment Company, one of United Arab Emirates’ sovereign wealth funds, is looking at investments in the “crypto ecosystem,” CEO and Managing Director Khaldoon Al Mubarak said in an interview with 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.
- The evolving regulatory environment will help crypto transition into something new, he added. 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.
- The Abu Dhabi-headquartered fund is investing in the ecosystem around crypto, be it blockchain, energy usage, Al Mubarak said, without giving further details.
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