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Mubadala Capital launches tokenized private markets fund across Base, Solana
The tokenized strategy has drawn about $75 million in onchain assets and relies on KAIO infrastructure, with Coinbase also taking exposure on its balance sheet.
CoinDesk reports that Mubadala Capital, the asset management arm of Abu Dhabi's sovereign wealth fund, has launched a tokenized version of one of its private markets strategies for qualified investors, using infrastructure from UAE-based tokenization firm KAIO.
The fund is available on Coinbase’s Base network, as well as Solana and Sui, and the companies said it has attracted about $75 million in onchain assets so far.
CoinDesk adds that Coinbase is taking exposure to the product on its own balance sheet, while the firms did not disclose the size of Coinbase’s investment.
The launch underscores a broader push by traditional asset managers into tokenized funds, as Wall Street projects large growth for tokenized securities and private-market access via blockchain rails, with Mubadala Capital joining players such as BlackRock and Franklin Templeton.
The article also notes that Mubadala Capital oversees about $430 billion in assets, and it cites Citi’s projection of roughly $5.5 trillion in tokenized securities by 2030, alongside estimates from Boston Consulting Group and Ripple for tokenized assets across all asset classes reaching $18.9 trillion by 2033.
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