Abu Dhabi’s MGX investing $2b in Binance using only stablecoins

Binance received an investment of $ 2 billion from MGX based in Abu Dhabi, marking the first institutional investment in the history of Binance.

The investment was fully carried out in stablewhich grants MGX a minority participation in Binance and signals the entry of the company into the cryptocurrency and blockchain sectors.

MGX, known for its accent on AI and advanced technologies, said the investment aligns With its strategy to support the innovation and finance of blockchain.

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

Water compliance efforts

With this investment, Binance aims to extend its compliance efforts, improve safety measures and strengthen partnerships with regulators around the world.

Binance (Bnb), which employs around 1,000 water employees, has established itself as a key player in the cryptographic landscape of the region, according to its press release. The exchange serves more than 260 million registered users and has processed more than 100 billions of dollars in cumulative negotiation volume.

“This investment by MGX is an important step for cryptographic industry and binance,” said Binance CEO Richard Teng. “Together, we feel the future of digital finance. Our goal remains on the conformity, safety and protection of users. »»

Teng, who previously was CEO of the ABU Dhabi Financial Servities Regulatory Authority, played a central role in the development of one of the first cryptographic regulatory frameworks in the world.