Abu Dhabi sovereign wealth fund Mubadala Capital has partnered with Coinbase and infrastructure provider KAIO to tokenize its evergreen private markets fund, according to Fortune. The product will issue compliant on-chain tokens to qualified investors. Coinbase said Base will serve as one of the underlying blockchain networks for the offering, and the exchange will also buy the token itself and place the Mubadala fund on its balance sheet. Fortune described the move as the first time a major publicly listed U.S. company has used a compliant tokenized asset for native on-chain treasury management. The product has already drawn about $75 million, with investors spanning traditional institutions and crypto-native allocators. Mubadala manages nearly $400 billion in assets, and the tokenization effort is aimed at lowering the barriers associated with traditional private equity and widening the pool of potential investors.
Abu Dhabi sovereign wealth fund Mubadala Capital has reached a deal with Coinbase and infrastructure provider KAIO to tokenize its evergreen private markets fund, according to Fortune. The plan is to issue compliant on-chain tokens to qualified investors.
Coinbase will use its Base blockchain as one of the underlying networks for the product. The company will also purchase the token directly and add the Mubadala fund to its balance sheet.
Fortune said the arrangement marks the first time a major publicly listed U.S. company has used a compliant tokenized asset for native on-chain treasury management. The product has attracted about $75 million so far, with investors including both traditional institutions and crypto-native allocators.
Mubadala manages nearly $400 billion in assets. The tokenization push is intended to lower the high entry barriers tied to traditional private equity and expand the potential investor base.
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