Binance has received a $2 billion investment from Abu Dhabi-based MGX, marking the first institutional investment in Binance’s history.
The investment was conducted entirely in unnamed stablecoins, which grants MGX a minority stake in Binance and signals the firm’s entry into the cryptocurrency and blockchain sectors.
MGX, known for its focus on AI and advanced technology, said the investment aligns with its strategy to support blockchain innovation and finance.
“MGX’s investment in Binance reflects our commitment to advancing blockchain’s transformative potential for digital finance,” said Ahmed Yahia, Managing Director and CEO of MGX. “As institutional adoption accelerates, the need for secure, compliant, and scalable blockchain infrastructure has never been greater.”
UAE compliance efforts
With this investment, Binance aims to expand its compliance efforts, enhance security measures, and strengthen partnerships with regulators worldwide.
Binance (BNB), which employs around 1,000 staff in the UAE, has established itself as a key player in the region’s crypto landscape, according to its press release. The exchange serves over 260 million registered users and has processed more than $100 trillion in cumulative trading volume.
https://twitter.com/cz_binance/status/1899832759901626631
“This investment by MGX is a significant milestone for the crypto industry and Binance,” said Binance CEO Richard Teng. “Together, we are shaping the future of digital finance. Our focus remains on compliance, security, and user protection.”
Teng, who previously served as CEO of the Abu Dhabi Financial Services Regulatory Authority, played a pivotal role in developing one of the world’s earliest crypto regulatory frameworks.
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