UAE Wealth Fund Mubadala Investing in Crypto Ecosystem: CEO

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Mubadala Investment Company, certainly one of United Arab Emirates’ sovereign wealth funds, is investments in the ‘crypto ecosystem,’ CEO and Managing Director Khaldoon Al Mubarak mentioned in an interview with CNBC.

  • “I think its (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 mentioned.
  • The evolving regulatory atmosphere will assist crypto transition into one thing new, he added. Mubadala has AED 894 billion ($243 billion) in belongings underneath administration, and is among the largest wealth funds in UAE and the world.
  • The Abu Dhabi-headquartered fund is investing in the ecosystem round crypto, be it blockchain, vitality utilization, Al Mubarak mentioned, with out giving additional particulars.