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Abu Dhabi-backed MGX has invested USD 2 billion in Binance, becoming a minority shareholder through a stablecoin deal. This marks MGX's first venture into blockchain, aligning with the UAE's strategy to establish itself as a digital asset hub and support the transformative potential of blockchain in global finance.
Binance has secured a landmark $2 billion investment from MGX, marking the first institutional deal for the cryptocurrency exchange and the largest investment in a crypto company to date. This transaction, conducted entirely in stablecoin, allows MGX to acquire a minority stake in Binance, aiming to enhance innovation at the intersection of AI, blockchain, and finance. Both companies emphasize the importance of secure and compliant blockchain infrastructure as institutional adoption accelerates.
Binance has secured a $2 billion investment from Abu Dhabi-based MGX, marking the largest-ever equity deal in the crypto sector, entirely paid in stablecoins. This investment grants MGX a minority stake in Binance and underscores the growing institutional confidence in digital assets, despite market volatility.The deal aligns with MGX's strategy to support blockchain's transformative potential in finance, while Binance aims to enhance its compliance and operational transparency under CEO Richard Teng, who has a background in shaping crypto regulation in the UAE.
Ahmed Yahiaoui
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