The Abu Dhabi-based company MGX has invested $2 billion in Binance, making it the largest institutional investment ever in a crypto company and the largest investment ever paid in stablecoins. The deal solidifies Binance's dominance and signals growing institutional belief in the future of blockchain.
MGX enters the crypto market with a record investment of $2 billion in Binance
Binance, the world's largest crypto exchange, has secured a groundbreaking investment of $2 billion from MGX, an AI and technology investment firm based in Abu Dhabi. The deal marks the first institutional investment in Binance and the largest crypto investment ever made, both in total amount and in its fully paid value in stablecoins.
According to the announcement, this historic partnership signals a significant shift in institutional sentiment towards the crypto space, with MGX making a strategic minority investment in Binance as it makes its entry into blockchain.
MGX's entry into the crypto market comes with the intention of fostering innovations at the intersection of AI and blockchain and supporting a tokenized, decentralized financial ecosystem. By supporting Binance, MGX is targeting a platform with 260 million users and significant activities in the UAE, where almost 1,000 of its 5,000 employees are located.
Richard Teng, the CEO of Binance and former head of the Abu Dhabi Financial Services Authority, played a crucial role in promoting crypto regulation in the UAE.
"This investment from MGX is a significant milestone for the crypto industry and Binance. Together, we are shaping the future of digital finance. Our goal is to create a more inclusive and sustainable ecosystem, with a strong focus on compliance, security, and user protection," said Binance's CEO, Richard Teng.
Ahmed Yahia, MD/CEO of MGX, added: "MGX's investment in Binance reflects our commitment to advancing the transformative potential of blockchain for digital finance. Together, we are dedicated to building a more inclusive and robust digital financial ecosystem."
MGX's investment underscores the growing institutional appetite for crypto exposure, particularly through trusted and regulated infrastructures.
I wonder if we will benefit from this as customers of Binance?
What will Binance do with this?
How will they use the money?
Share your thoughts on this, what do you think?
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