Standard Asset Company sets up in ADGM for proposed $1.5 billion Bitcoin reserve
Standard Asset Company (SAC) has established its headquarters at Abu Dhabi Global Market (ADGM), with a proposed $1.5 billion strategy combining a professionally managed Bitcoin reserve with investments in UAE real estate.
Coinbase Asset Management has been appointed the exclusive manager of SAC’s Bitcoin holdings. The company’s approach links digital asset management with property investments, with returns intended to support hospitality and real estate investments in the Emirates.
Operating as Standard Proprietary Company Ltd., SAC was established by Sakhib Waseem, Adam Ali and Mason Borda, whose backgrounds span institutional finance and digital asset markets.
According to the company, its founding team has advised on transactions exceeding $7 billion and supported more than $1 billion in digital asset offerings worldwide.
SAC’s network of advisers and shareholders includes Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, former White House Chief of Staff Mick Mulvaney, Coinbase Institutional Co-CEO Brett Tejpaul and Lord Iain McNicol, a member of the UK’s House of Lords.
The company said this combination of international business and financial expertise reflects its ambition to strengthen commercial relationships between the United States and the UAE.
Commenting on the strategy, Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum said, “Building a company in the UAE which connects the digital economy with the traditional economy is something I am proud to be involved in. The strategy developed with Coinbase brings institutional expertise and discipline to our digital asset holdings, with the objective of investing returns into hospitality and real estate here in the Emirates.”
Coinbase to manage Bitcoin reserve
Under the proposed model, SAC plans to hold Bitcoin alongside a portfolio of prominent UAE properties, bringing the two asset classes together within a single investment strategy.
Coinbase Asset Management is headed by president Anthony Bassili, a former BlackRock executive.
Brett Tejpaul, Co-CEO of Coinbase Institutional, highlighted the connection between institutional Bitcoin management and real-world assets, stating, “The UAE is a critical hub for the adoption of digital assets globally. What makes Standard Asset Company’s strategy so special is how it directly connects institutional Bitcoin management with real-world assets. We are excited to support SAC as their exclusive Bitcoin asset manager.”
Bringing digital and physical assets together
Sakhib Waseem, Co-Founder and Managing Director of Standard Asset Company, said institutional interest in holding digital and physical assets together was driving the company’s approach. He pointed to the UAE’s regulatory environment and long-term ambitions as reasons for choosing it as SAC’s base.
“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. The UAE is leading that shift. Its regulatory clarity and long-term ambition make it the natural home for Standard Asset Co, and the foundation from which we intend to grow,” Waseem said.
