Mubadala from Abu Dhabi tells CNBC to invest in crypto ecosystem

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DUBAI, December 13 (Reuters) – Abu Dhabi State Fund Mubadala has invested in the ecosystem around cryptocurrencies, such as blockchain technology, given the increase in the market value of digital currency, its CEO Khaldoon al-Mubarak told CNBC in an interview.

“I think, you know, this is a company that was worth $ 200 billion in crypto two years ago, and it’s two and a half trillion dollars today and in growth, ”Mubarak said.

“So I think even though a lot of people are skeptical, I’m not in that category. “

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Mubadala has $ 243 billion in assets.

Mubarak gave no indication of how much the fund would spend, but said the focus was on related infrastructure.

“From our perspective, I think we’re looking at the ecosystem around crypto. And I think we’re investing in that ecosystem. It could be in blockchain technology, power consumption, etc. “, did he declare.

The rapid growth of cryptocurrencies and in particular stablecoins – digital assets pegged to traditional currencies – has caught the attention of regulators who fear putting the financial system at risk if not properly monitored. Read more

Financial technology firm Halo Investing said in October it had raised more than $ 100 million in ‘Series C’ funding from investors such as Owl Capital and Abu Dhabi Catalyst Partners, which is backed by Mubadala. .

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Reporting by Saeed Azhar; edited by Barbara Lewis

Our Standards: Thomson Reuters Trust Principles.

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