Binance secures $2 billion from Abu Dhabi’s MGX

MGX's billion-dollar move marks a strategic shift to propel global blockchain developments in digital finance.

Key Takeaways

• Abu Dhabi's MGX invested $2 billion in Binance, marking the largest-ever crypto company investment.
• The investment gives MGX a minority stake in Binance to support blockchain technology development.

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Binance announced Wednesday that MGX, Abu Dhabi’s AI and advanced technology investor, has invested $2 billion in Binance, marking the largest-ever investment in a crypto company and the first institutional investment in the world’s largest crypto exchange.

The investment, made in stablecoin, gives MGX a minority stake in Binance as part of its strategy to support blockchain technology development. Binance currently employs about 1,000 of its 5,000 global workforce in the UAE.

The crypto exchange serves over 260 million registered users and has processed more than $100 trillion in cumulative trading volume, making it larger than several next-ranked crypto exchanges combined.

“MGX’s investment in Binance reflects our commitment to advancing blockchain’s transformative potential for digital finance,” said Ahmed Yahia, Managing Director & CEO of MGX. “As institutional adoption accelerates, the need for secure, compliant, and scalable blockchain infrastructure and solutions has never been greater.”

Binance CEO Richard Teng said:

“This investment by MGX is a significant milestone for the crypto industry and for Binance. Together, we are shaping the future of digital finance. Our goal is to build a more inclusive and sustainable ecosystem, with a strong focus on compliance, security, and user protection.”

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