Abu Dhabi’s MidChains closes investment round with Mubadala backing – The National

Abu Dhabi’s MidChains closes investment round with Mubadala backing – The National

Mubadala Capital, Miami International Holdings and the Abu Dhabi Investment Office (Adio) are investors in the virtual asset trading exchange

















MidChains co-founders Basil Al Askari (left) and Mohamed Al Hashemi have secured backing from Mubadala Capital. Courtesy MidChains. 

















July 6, 2020



July 6, 2020













MidChains, an upcoming Abu Dhabi-based virtual asset trading exchange, said it closed its latest funding round with backing from investors including Mubadala Investment Company's asset management arm as it plans to start operations in 2020.



Mubadala Capital, Miami International Holdings (MIH), the Abu Dhabi Investment Office (Adio) and other regional backers were among the investors in the fund-raising deal, MidChains said in a statement on Monday. The sum invested was not disclosed.



"As we aim to launch the MidChains platform later this year, the backing of established institutions will enable us take the next steps in our development while supporting our long-term growth strategy... in regards to the development of financial markets," Basil Al Askari, co-founder and chief executive of MidChains, said. "Our group of world class shareholders bring a wealth of international experience that