Abu Dhabi-based Mubadala Financial Investment Capital, the 13th largest sovereign wealth fund in the world, made a financial investment in cryptocurrency exchange MidChains.
According to Gulf News, Mubadala Financial investment Capital has invested in MidChains, a digital currency trading platform set to introduce in late 2019 in Abu Dhabi. The exchange will be situated in the international financial center and free zone Abu Dhabi Global Market (ADGM).
Discussing the investment, Basil Al Askari, founder of MidChains, informed the Gulf News:
“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.”