Standard Asset Company, based in Abu Dhabi, has launched a $1,5 billion investment strategy. The plan combines the acquisition of income-generating real estate in the UAE with a long-term Bitcoin reserve.
The firm, also known as Standard Proprietary Company Ltd., operates from the Abu Dhabi Global Market. It utilizes a generate-retain-redeploy model where revenue from hospitality assets and branded residences supports the Bitcoin holdings.
Coinbase Asset Management has been appointed as the exclusive manager for the firm's Bitcoin reserves. The unit is led by president Anthony Bassili, a former BlackRock executive.
The company was founded by Sakhib Waseem, Adam Ali, and Mason Borda, who previously advised on transactions exceeding $7 billion. The advisory board includes Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum and former White House Chief of Staff Mick Mulvaney.
The specific allocation of funds between real estate and digital assets remains undisclosed. The firm has not yet revealed the exact volume of Bitcoin it currently holds or intends to purchase.
