Cryptocurrency investment from UAE company that manages $243 billion in assets

in the United Arab Emirates, the place buying and selling of cryptocurrencies was allowed in the free zone within the earlier months, one in every of the foremost funding corporations, Mubadala Investment Corporate of Abu Dhabi, got here to my crypto money identify.

“i am now not skeptical”

talking to CNBC from the united states media, corporate CEO Haldun Al Mubarak stated that he is now not skeptical about the crypto money surroundings and introduced that they’re investing in some areas:

“i think cryptocurrencies are real. It had a market worth of $TWO HUNDRED billion 2 years ago, now $2.5 trillion and rising. many of us and companies are skeptical of this industry, however I now not placed the industry in the class of sectors to be suspicious of. Regulations will even lend a hand grow to be cryptocurrencies right into a new device”

Mubadala corporate stands proud as considered one of the largest asset management firms in each the UAE and the sector, with $243 billion in assets beneath its control.

the executive of the Abu Dhabi-based corporate stated that they made investments inside the framework of power, blockchain and crypto cash ecosystems, but did not supply main points.

The World Digital Mining Summit was held in Dubai, a country the place severe steps have been taken in cryptocurrencies and mining recently. and Phoenix Generation Specialists introduced that it had positioned an order for mining equipment worth $650 million. as it is known, Phoenix Tech corporate, which also has an place of work in Istanbul, is an organization affiliated with Phoenix Retailer, Bitmain’s distributor for the middle East region.