Abu Dhabi’s Mubadala Capital has tokenized one of its private markets funds and launched it across Base, Solana, and Sui with about $75 million in investor commitments, including Coinbase’s own investment. The push partners with KAIO to provide the blockchain rails, enabling regulated on-chain access to private markets for qualified investors and creating a secondary market for liquidity. Coinbase is not only a technology partner but also a direct investor, signaling strong institutional appetite for tokenized assets and on-chain treasury management. The move reflects a broader shift toward tokenization of real-world assets, with tokenized private markets touted as a path to faster settlements, lower costs, and greater access than traditional private equity. Industry observers note the momentum, citing the on-chain real-world assets market surpassing $30 billion in early 2026 and tripling year over year. This development positions Mubadala and its partners at the forefront of integrating sovereign wealth capital with open blockchain rails to reshape access to private market investments.