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$2 billion from the UAE on Binance: MGX's “monstre” investment
By Davide Grammatica
Binance and Abu Dhabi-based technology investor MGX have announced a $2 billion investment in the crypto exchange
A new boost for Binance
The Binance exchange and the Abu Dhabi technology investor MGX have announced a “historic” investment in the world’s leading CEX in terms of volume and user base. We’re talking about $2 billion dollars, which, according to the official press release, is “the single largest investment ever in a cryptocurrency company”, and made through stablecoins.
It’s a decisive step towards “strengthening the role of blockchain in global finance”, but also towards consolidating Binance’s primacy in the CeFi world, which to date stands out from the competition in almost every region of the world.
The investment is also MGX’s first foray into the crypto sector, having previously focused on advanced technology and artificial intelligence. It has also obtained a minority stake in Binance, to be at the forefront of the process of integrating AI into the crypto world.
The UAE is betting on crypto
The fact that the theater of this agreement is the United Arab Emirates is no coincidence. About a thousand Binance employees (out of a total of 5,000) are now employed in the region, which, thanks to a clear regulatory framework favorable to development, has created the right environment to attract the major crypto companies.
A promising development path is thus taking shape, with the players involved aiming to lead the way in enabling blockchain solutions in competition with artificial intelligence, decentralized finance and the tokenized digital economy.
“MGX’s investment in Binance reflects our commitment to promoting the transformative potential of blockchain for digital finance,” said Ahmed Yahia, CEO of MGX. ”As institutional adoption accelerates, the need for secure, compliant and scalable blockchain infrastructure and solutions has never been greater.”
