Coinbase to invest in Abu Dhabi sovereign fund tokenized product, add it to balance sheet

Coinbase (COIN) is partnering with Mubadala Capital, part of Abu Dhabi’s sovereign wealth fund, and tokenization infrastructure firm KAIO to issue an on-chain token based on Mubadala’s evergreen private equity fund for qualified investors, Fortune reported. The token will be issued on the Base, Sui and Solana networks and has raised $75 million so far. Coinbase plans to buy the token directly and reflect it on its balance sheet. This marks the first time a U.S.-listed company has added a compliance-focused tokenized real-world asset to its financial statements.