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Abu Dhabi state fund invests $243 billion in cryptocurrency ecosystem

Abu Dhabi state fund invests $243 billion in cryptocurrency ecosystem

Khaldoon al-Mubarak, CEO of Abu Dhabi's state fund Mubadala Investment Capital, spoke positively about cryptocurrencies, U.Today reported. He says the fund is investing in the cryptoecosystem, highlighting blockchain technology and energy as key areas of interest: From our perspective, we're looking at the ecosystem around cryptocurrencies. And I think we're investing in that ecosystem. It could be blockchain technology, energy use, etc.

Mubadala, which is associated with Crown Prince Mohammed bin Zayed, has $243 billion in assets under management. The organization got its start in cryptocurrencies back in 2019 by investing in MidChains, the first regulated cryptocurrency exchange in the UAE. MidChains began trading four cryptocurrencies (Bitcoin, Bitcoin Cash, Litecoin and Ethereum) in late September.

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