Standard Asset Company opens UAE office to drive $1.5B bitcoin and real estate strategy

Abu Dhabi's Standard Proprietary Company Ltd., or Standard Asset Company (SAC), has inaugurated its office in Abu Dhabi Global Market (ADGM). The establishment signals the firm's ambitious $1.5 billion asset management strategy, merging a professionally overseen Bitcoin reserve with the acquisition of prominent UAE real estate holdings.

SAC was established by Sakhib Waseem, Adam Ali, and Mason Borda, who boast a combined track record of advising on over $7 billion in transactions and facilitating over $1 billion in global digital asset offerings. The founding team's advisers and shareholders comprise Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, former White House Chief of Staff Mick Mulvaney, Coinbase Institutional Co-CEO Brett Tejpaul, and UK House of Lords Member Lord Iain McNicol.

The company's strategy aims to reinforce commercial ties between the United States and the UAE. Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum expressed pride in SAC's role in bridging the digital and traditional economies, and highlighted the Coinbase-led Bitcoin management as a key component of the portfolio. Coinbase Asset Management, overseen by President Anthony Bassili, is responsible for SAC's Bitcoin holdings.

Brett Tejpaul, Co-CEO of Coinbase Institution, emphasized the significance of the UAE as a hub for digital asset adoption and praised SAC's unique strategy of linking institutional Bitcoin management with real-world assets. SAC's co-founders and managing director Sakhib Waseem underscored the UAE's regulatory environment and long-term vision as pivotal factors in the company's decision to establish its headquarters in ADGM.