Abu Dhabi state fund Mubadala invests in the ecosystem related to cryptocurrencies, such as blockchain technology, according to a report by Reuters on Monday.
- In an interview with CNBC, CEO Khaldoon al-Mubarak stated that the business had $200 billion of crypto value in the last two years, and it has grown to reach two and a half-trillion dollars.
- Al-Mubarak further stated that he did not among the skeptics. Mubadala has $243B in assets.
- Mubarak did not signal how much of the fund would spend but emphasized the focus was on the surrounding infrastructure.
- The rapid expansion of cryptocurrencies and, more so, stablecoins has gained the attention of the regulators, who are concerned that they could put the financial system at risk.
Financial technology firm Halo Investing supported by Mubadala, raised more than $100M in Series C funding from investors such as Owl Capital and Abu Dhabi Catalyst Partners.