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Binance Secures Record $2 Billion Investment from Abu Dhabi’s MGX

The deal marks the first institutional investment in Binance and the largest crypto investment ever conducted using stablecoins.

Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
Binance CEO Richard Teng.
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Overview

  • Abu Dhabi-based MGX has invested $2 billion in Binance, securing a minority stake in the world's largest cryptocurrency exchange.
  • The transaction, fully paid in stablecoins, represents the largest single investment in a crypto company to date.
  • MGX, a state-backed investment firm focused on AI and blockchain, aims to drive innovation at the intersection of digital finance and advanced technologies.
  • Binance CEO Richard Teng emphasized the partnership's role in fostering a secure and compliant blockchain ecosystem as institutional adoption accelerates.
  • The deal strengthens Binance's presence in the UAE, which is emerging as a global hub for cryptocurrency and blockchain innovation.