Core Insights - The technology underlying digital assets is expected to evolve into a foundational infrastructure layer for the financial services industry by 2026, significantly impacting capital allocation and market operations of traditional financial firms [1] Group 1: Trends in Digital Assets - Stablecoins and tokenized assets gained traction in payments and liquidity management in 2025, with expectations for further integration of formerly disparate sectors such as transition finance, private credit, and emerging markets [2] - Digital finance platforms are now hosting tokenized US Treasurys and structured credit products, with anticipated efficiency gains from the adoption of new technologies [3] - The increasing use of tokenized issuance and programmable settlement is expected to enhance liquidity turnover and reduce operational costs for financial institutions [3] Group 2: Interconnectivity and Adoption - Evolving technologies like stablecoins, tokenization, and blockchains are set to interconnect previously separate areas of finance, facilitating a more unified digital ecosystem [4] - Institutions are preparing to adopt stablecoins for cross-border payments and liquidity management, bridging the gap between digital and traditional finance [5] - Asset tokenization is becoming more prevalent, making it easier and cost-effective to issue and trade assets, thus opening new market opportunities [5] Group 3: Future Market Dynamics - As innovations mature, markets will increasingly compete based on the strength and maturity of their infrastructure layers, which need to be secure, efficient, and highly interoperable [6]

Core Insights - Mubadala Capital has partnered with Kaio to explore how digital rails can facilitate tokenized access to private market strategies [1][2] - The collaboration aims to test Kaio's framework for enabling institutional and accredited investors to access Mubadala's private market products onchain [2] - This initiative reflects a growing interest in RWA tokenization to modernize traditional fund structures that have high minimums and long lockup periods [2] Company Overview - Mubadala Capital manages over $430 billion across various sectors including private equity, credit, real estate, and alternative strategies [3] - It operates as a subsidiary of Mubadala Investment Company, a significant sovereign wealth fund in Abu Dhabi [3] Digital Asset Positioning - Mubadala's digital asset strategy has gained attention, with reports indicating that the Abu Dhabi Investment Council holds at least $500 million in BlackRock's spot Bitcoin ETF [4] - The co-heads of Mubadala Capital Solutions emphasized the goal of collaborating with regulatory-aligned infrastructure to broaden access to institutional-grade investment vehicles [4] Kaio's Role - Kaio has experience in structuring tokenized feeder funds for major firms like BlackRock and Brevan Howard, having moved over $200 million in institutional assets onchain [5] - The partnership with Mubadala highlights the momentum behind onchain investment products, as stated by Kaio's CEO [5] Market Trends - The collaboration places Mubadala among institutional players investigating the potential of tokenized mechanisms to reduce operational friction and enhance global participation [6] - CoinShares data indicates a significant increase in demand for RWAs, particularly tokenized US Treasurys, which rose from $3.9 billion to $8.6 billion this year, with expectations for continued growth into 2026 [6] Infrastructure Developments - The infrastructure supporting this shift is evolving, as evidenced by Polygon's recent deployment of a hard fork aimed at improving performance for high-frequency applications like stablecoins and tokenized RWAs [7] Summary of Initiatives - Mubadala Capital is actively exploring tokenized private market access in collaboration with Kaio, reflecting rising institutional interest in RWAs and the increasing momentum of tokenized assets as infrastructure improves [8]