#StablecoinPayments - Eric Trump announced that USD1 will be used for a $2 billion investment in MGX through Binance.

MGX from Abu Dhabi will use a stablecoin linked to Trump to settle a $2 billion investment in Binance, one of the largest Web3 funding deals.

The Abu Dhabi-based investment firm, MGX, will use a stablecoin linked to the family of U.S. President Donald Trump to finalize a $2 billion investment in Binance, the world's largest cryptocurrency exchange.

The stablecoin linked to the U.S. dollar, World Liberty Financial USD (USD1), was launched by the cryptocurrency platform associated with Trump, World Liberty Financial (WLFI), in March 2025.

MGX will use the USD1 stablecoin for its $2 billion investment in the Binance exchange, according to an announcement by Eric Trump during a panel discussion at Token2049 in Dubai. Trump, son of the president, serves as executive vice president of the Trump Organization.

MGX announced its investment in Binance on March 12, marking the first institutional investment in the exchange and one of the largest funding deals in the entire Web3 industry.

At that time, Binance declined Cointelegraph's request to disclose which stablecoin was used in the transaction.

This marks the first foray of the Abu Dhabi-based investment firm into the cryptocurrency space.

Banks and the financial system are "a joke," says Eric Trump

During the panel discussion, Eric Trump criticized the inefficiencies and limited hours of the traditional financial system:

"The U.S. is seeing that the financial world needs to progress. It’s a joke. Why do banks operate from nine to five, Monday to Friday, with an hour and a half for lunch? It doesn’t make sense."

Sending money internationally through SWIFT is slow, expensive, and complex. Cryptocurrencies make banks redundant,” he added.