Mubadala Capital Brings Private Markets Fund Onchain With Coinbase Backing

Abu Dhabi’s Mubadala Capital has launched a tokenized version of one of its private markets funds, joining a growing wave of major asset managers moving into blockchain based finance.

Fund Launches Across Three Networks

The sovereign wealth-backed asset manager, which oversees about $430 billion in assets, used infrastructure from UAE based tokenization firm KAIO to bring the fund onchain. It is now available to qualified investors on Coinbase’s Base network, Solana and Sui, and has already drawn roughly $75 million in onchain assets.

Coinbase Takes Its Own Stake

Coinbase is also investing in the fund directly on its corporate balance sheet, marking an early instance of a publicly traded crypto company holding a tokenized private markets product. The companies did not disclose the investment size.

Part of a Broader Tokenization Trend

Mubadala joins firms like BlackRock, Franklin Templeton, Apollo and Fidelity in launching tokenized fund products, mostly tied to treasuries, money markets and private credit. Citi projects tokenized securities could reach $5.5 trillion by 2030. KAIO, which already hosts $144 million in tokenized funds, said Mubadala joins existing clients including Hamilton Lane and Brevan Howard on its platform.