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Binance receives an investment of 2 billion USD from MGX
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According to Binance's announcement, MGX, an advanced technology group in Abu Dhabi, has just made a 2 billion USD investment in stablecoins for the exchange. The 2 billion USD deal between MGX and Binance sets a record as the largest investment in a crypto company. Additionally, the entire transaction was conducted in stablecoins, marking a historic milestone in payment scale within the industry.
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This is also the first time Binance has opened its doors to institutional capital since its establishment in 2017, especially as the company continues its path to becoming the most reliable and secure platform in the world. With this capital, MGX holds a minority stake in Binance, opening up prospects for strategic collaboration between the two parties.
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Binance currently leads the cryptocurrency industry with over 260 million global users. The total accumulated trading volume of the exchange exceeds 100 trillion USD, far surpassing its competitors. CEO Richard Teng asserted that the investment from MGX is a turning point not only for Binance but for the entire industry.
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The exchange is committed to building a sustainable digital financial ecosystem, focusing on security and regulatory compliance. Binance aims to accelerate projects related to smart contracts and blockchain applications.
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MGX is not only making a financial investment but also aims for strategic collaboration with Binance. The group focuses on developing AI, DeFi, and tokenizing the digital economy.
