Abu Dhabi Sovereign Fund Tokenization Move Bypasses XRP Ledger
Mubadala Capital, backed by Abu Dhabi's sovereign wealth fund, has joined the tokenization push by bringing a private market fund onchain via KAIO, with Coinbase taking a stake in the fund. The networks selected for the deployment are Base, Solana, and Sui, with no involvement from the XRP Ledger. This development reflects the broader institutional tokenization trend but does not directly benefit the XRP ecosystem.
Abu Dhabi's Mubadala Capital has announced a move into onchain private market funds, partnering with KAIO to tokenize one of its funds across three blockchain networks: Base, Solana, and Sui. Coinbase is also taking a stake in the onchain fund, signaling institutional appetite for tokenized real-world assets.
Notably, the XRP Ledger was not selected as a deployment network for this initiative. While Ripple has positioned the XRPL as a leading platform for institutional tokenization and real-world asset issuance, this particular sovereign wealth-adjacent mandate went to competing chains.
The development is relevant context for XRP holders tracking the competitive landscape in institutional tokenization. Ripple and the XRPL continue to pursue similar mandates, and the growing number of sovereign and institutional entrants into tokenization underscores both the scale of the opportunity and the intensity of network competition.
Key facts
- •Mubadala Capital is backed by Abu Dhabi's sovereign wealth fund
- •The fund is being brought onchain via KAIO across Base, Solana, and Sui
- •Coinbase is taking a stake in the onchain fund
- •XRP Ledger is not involved in this deployment