Coinbase named exclusive Bitcoin manager for Abu Dhabi firm planning $1.5B bet on crypto, UAE property

Abu Dhabi-based Standard Asset Company has opened its headquarters in ADGM and named Coinbase Asset Management exclusive manager of its Bitcoin holdings, as it prepares a proposed $1.5 billion strategy spanning crypto and UAE hospitality and real estate. The firm’s backers include former White House chief of staff Mick Mulvaney and a member of Dubai’s royal family.

Standard Asset Company targets closer US-UAE investment ties

Founded by Sakhib Waseem, Adam Ali and Mason Borda, Standard Asset Company is seeking to build a business that connects institutional cryptocurrency management with traditional investments.

According to the company’s announcement, the founding team has advised on more than $7 billion in transactions and facilitated over $1 billion in global digital asset offerings. These figures form part of the company’s stated institutional background as it prepares to execute its investment strategy.

Its advisers and shareholders include Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, a member of Dubai’s royal family; Mick Mulvaney, a former White House chief of staff; Brett Tejpaul, co-CEO of Coinbase Institutional; and Lord Iain McNicol, a member of the UK House of Lords.

The group brings together individuals with experience in government, finance and digital assets. The company says their involvement reflects its ambition to strengthen commercial relationships between the United States and the UAE through investment and financial services.

Establishing a headquarters in Abu Dhabi provides an operating base for SAC’s proposed investment programme. The company intends to combine digital assets with property investments rather than concentrate exclusively on cryptocurrency holdings.

Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum said the initiative could help connect the two sectors while directing investment returns into the UAE economy.

“Building a company in the UAE which connects the digital economy with the traditional economy is something I am proud to be involved in,” he said.

He added that the strategy developed with Coinbase would bring institutional expertise to the company’s digital asset holdings, with the objective of investing returns in hospitality and real estate across the Emirates.

The comments highlight the company’s stated intention to use digital asset management as part of a wider investment model tied to traditional economic activity.

Bitcoin and UAE real estate form the investment strategy

Standard Asset Company is structuring its proposed portfolio around two principal asset classes: Bitcoin and real estate.

The cryptocurrency component will consist of a Bitcoin reserve managed according to institutional standards. The property component will focus on acquiring prominent real estate assets across the UAE, including opportunities in the hospitality sector.

The proposed $1.5 billion strategy is intended to bring the two components under a single asset management framework. However, the announcement does not establish that the entire amount has already been raised, invested or committed. The figure describes the company’s anticipated strategy rather than a confirmed total of assets under management.

Coinbase Asset Management, led by president Anthony Bassili, a former BlackRock executive, has been engaged as the exclusive asset manager for SAC’s Bitcoin holdings.

The appointment places responsibility for managing the company’s cryptocurrency reserve with a specialist asset management business while SAC pursues its wider investment objectives.

Brett Tejpaul, co-CEO of Coinbase Institutional, said the UAE’s position in the digital asset industry made the market an important location for the initiative.

“The UAE is a critical hub for the adoption of digital assets globally,” Tejpaul said.

He added that the connection between institutional Bitcoin management and real-world assets distinguished the company’s approach, expressing Coinbase’s willingness to support SAC as its exclusive Bitcoin asset manager.

The arrangement reflects a strategy in which Bitcoin serves as one component of a broader portfolio rather than the sole focus of the company’s investment activities.

Standard Asset Company positions Abu Dhabi as its growth base

The opening of the Abu Dhabi headquarters places Standard Asset Company within a financial centre that the company views as a suitable base for its digital and traditional asset strategy.

Abu Dhabi Global Market provides the company’s chosen location for developing its operations as it pursues investments across the cryptocurrency and property sectors. The company has presented the UAE’s regulatory environment and long-term economic ambitions as important considerations in its decision to establish a headquarters there.

Sakhib Waseem, co-founder and managing director of Standard Asset Company, said the investment approach reflected a broader institutional interest in holding digital and physical assets together.

“Institutions around the world are moving to hold digital and physical assets side by side, and very few vehicles are built to do both with real discipline,” Waseem said.

He described the UAE as a natural base for the company’s expansion, pointing to its regulatory clarity and long-term ambitions.

“The UAE is leading that shift,” Waseem said, adding that the company intended to use the country as a foundation for growth.

The strategy comes as financial firms explore ways to incorporate digital assets into investment structures traditionally associated with equities, bonds, property and other conventional holdings. For companies pursuing this approach, the challenge extends beyond acquiring Bitcoin to managing its exposure alongside assets with different liquidity profiles, operating costs and risk characteristics.

Source: Gulf News