Abu Dhabi’s state-owned Mubadala Capital is taking a significant step toward blockchain integration. It was announced Thursday that the fund has partnered with US exchange Coinbase and infrastructure provider KAIO to offer one of its private-markets strategies as a regulated, blockchain-native token, with access restricted to qualified investors.
Coinbase Becomes an Investor Itself
What makes this deal stand out is that Coinbase isn’t only providing the technical rails — it’s also investing directly in the tokenized fund. The token operates on Coinbase’s own layer-2 network, Base, as well as on Solana and Sui. As a result of the investment, Mubadala’s fund will appear on Coinbase’s own balance sheet. According to the parties involved, this marks the first time a major publicly listed US company has used regulated tokenized assets for its own on-chain treasury management.
Why Mubadala Is Tokenizing
Managing hundreds of billions of dollars in assets, Mubadala is one of the largest sovereign wealth funds in the world. Until now, access to strategies like this one has been largely reserved for institutional investors and wealthy individuals with existing relationships to major private banks. That’s precisely what tokenization aims to change. KAIO CEO Shrey Rastogi explained to Fortune that these are typically deals that are difficult for most individual investors to access without a connection to a large private bank.
Access still runs through a regulated process: interested investors must first complete offchain verification through a licensed fund administrator, after which they receive an on-chain profile determining which products they are permitted to view and subscribe to.
Part of a Larger Trend
This move is part of a broader convergence between traditional finance and the crypto markets. Per a report from venture firm a16z crypto, tokenized stocks saw their market capitalization grow roughly 600% over the past year, reaching around $1.7 billion by the end of June 2026. Coinbase joins Robinhood, Binance, and NYSE-owned Intercontinental Exchange as active players in this space. What’s new is that sovereign wealth funds are now entering the picture too — tokenization has so far been driven mainly by brokers and trading platforms.
According to KAIO, the tokenized Mubadala strategy has already drawn about $75 million in capital from a mix of traditional and crypto-native investors. KAIO already supports tokenized funds for firms including BlackRock, Brevan Howard, Hamilton Lane, and Laser Digital, but is positioning the Mubadala partnership as its flagship deal with a sovereign wealth fund to date.
Primary source:
Camila Grigera Naón, “Coinbase invests in tokenized version of Abu Dhabi’s sovereign wealth fund”, Fortune, July 23, 2026:
https://fortune.com/2026/07/23/coinbase-tokenized-version-abu-dhabi-sovereign-wealth-fund/