MGX makes landmark $2B investment in Binance crypto exchange

Photo : Abu Dhabi Media Office

MGX, a company from Abu Dhabi, has invested $2 billion in Binance, the biggest cryptocurrency exchange in the world. This is the first time a big company has put money into Binance. It is also the largest investment ever in a crypto company and the biggest deal paid fully in digital money, known as stablecoin.

This is MGX’s first step into cryptocurrency and blockchain. By buying a small part of Binance, MGX wants to help blockchain grow and make digital finance stronger. The company believes that working with Binance will help bring new ideas that mix artificial intelligence, blockchain, and finance to make better financial services.

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Binance is very active in the UAE, where crypto rules are clear and supportive. The company has about 1,000 employees in the UAE out of its total 5,000 workers worldwide. Binance is the most trusted and secure cryptocurrency exchange, bigger than many other platforms combined. It has over 260 million users and has handled more than $100 trillion in trading. This investment will help Binance grow more and shows that MGX is serious about supporting blockchain, digital finance, and decentralized finance, which lets people trade without using banks.

Ahmed Yahia, the CEO of MGX, said this investment shows MGX believes in the future of digital money. He said that as more businesses start using cryptocurrency, there is a bigger need for safe and reliable platforms. Binance has always been a leader in crypto, offering services like trading, digital payments, and tokenization. He said MGX is excited to work with Binance to build a stronger and safer digital finance system.

Richard Teng, the CEO of Binance, said this investment is a big moment for Binance and the crypto world. He said Binance wants to make digital finance open, safe, and legal while protecting its users. He also said Binance will continue working with governments to create fair and clear crypto rules. He promised Binance will keep investing in security to make sure people trust digital money.

Before becoming Binance’s CEO, Richard Teng was the CEO of Abu Dhabi’s Financial Services Authority, where he helped create some of the first crypto rules in the world. His leadership has helped Binance follow legal rules in different countries.

This big investment will help Binance grow, give MGX new chances in digital finance, and support blockchain and artificial intelligence in money services. Both companies are working toward a future where digital money is safe, easy to use, and trusted by people everywhere.

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