Abu Dhabi sovereign wealth fund announce investment in cryptocurrency exchange

Mubadala Investment Capital announces investment in MidChains, digital currency trading platform.
The platform will be set for launch later on in 2019, to be based in Abu Dhabi.

Ken Chigbo Independent Analyst

Abu Dhabi-based Mubadala Investment Capital, the world’s thirteenth largest sovereign wealth fund, has made an investment in cryptocurrency exchange MidChains.

Gulf News reported that Mubadala Investment Capital has invested in MidChains, a digital currency trading platform, which is set for launch in late 2019 in Abu Dhabi. The exchange is going to be located in the international financial center and free zone Abu Dhabi Global Market (ADGM).

Co-founder of MidChains Basil Al Askari commented on the announcement:

We’re an exchange. You can think of it similar to a stock exchange, but where you’re trading equities, for us, it would be crypto. We also perform custody activities, which means we also can store, settle, and clear crypto transactions on behalf of our clients.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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