Summary

Mubadala Capital tokenized an evergreen private-markets strategy via KAIO, attracting ~$75M across Solana, Base and Sui, with Coinbase taking an undisclosed balance-sheet position — a sovereign-backed private-markets fund moving from infrastructure pilot to real institutional allocation.

Key Points

• Mubadala Capital tokenized evergreen private-markets strategy via KAIO; ~$75M across Solana, Base, Sui.
• Coinbase takes undisclosed balance-sheet position (investor, not just network/provider).
• Tied to Mubadala Capital Alternative Solutions Fund (private equity, direct investments, credit).
• Access limited to qualified institutional and accredited investors.
• Mubadala Capital: alt-asset subsidiary of Abu Dhabi's Mubadala Investment Company (parent manages/advises $600B+; alt ops ~$60B AUM).
• KAIO: UAE-based regulated tokenized-fund infrastructure (issuance, admin, multichain distribution).
• Follows December 2025 Mubadala-KAIO partnership for regulated digital private-market access.
• KAIO prior clients: BlackRock, Brevan Howard, Hamilton Lane, Nomura's Laser Digital; Tether led $8M round in April (total funding $19M).
• Coinbase role extends from custody/network infrastructure to direct economic exposure to sovereign-backed private-markets product.
• Coinbase Asset Management launched CUSHY tokenized credit strategy in April (Ethereum/Solana/Base).
• Multichain deployment shows tokenization no longer Ethereum-only; Solana building roster of institutional fund launches in 2026.
• Min investments, fees, redemption terms, investor count not disclosed; retail access/secondary trading not announced.

Sources

• https://wordupnews.com/cryptocurrency/china-completes-first-digital-yuan-payment-to-singapore/ (crypto.news coverage of Mubadala/KAIO tokenization)