Mubadala Investment Company, the National Wealth Fund of the Emirate of Abu Dhabi, is considering investing in a cryptocurrency ecosystem. This was stated by its CEO Khaldun Al Mubarak.
“Crypto is a business that was worth $ 200 billion two years ago, and today has reached $ 2.5 trillion. While many remain skeptics, I am not in this category,” he said. According to the top manager, the emerging regulatory framework in the country will allow digital assets "to become something new."
Al Mubarak did not disclose details regarding investment plans, but explained that they affect areas related to cryptocurrencies, such as blockchain and energy consumption.
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Mubadala manages assets worth 894 billion dirhams ($243 billion).
In September, the Dubai regulator approved the trade-in cryptocurrencies in the free economic zone.
In July, the UAE's central bank announced the development of its digital currency in the Development Strategy for 2023-2026.