Abu Dhabi Firm Invests $2 Billion in Binance via Stablecoins

AI and advanced technology investment firm MGX has announced a $2 billion investment in Binance, the world’s largest centralized exchange (CEX). The move marks MGX’s first foray into crypto, and is not only the largest single investment into a crypto company ever, but is also the largest investment made via crypto rails as it was transacted in stablecoins. Ahmed Yahia, the CEO of MGX said , “As institutional adoption accelerates, the need for secure, compliant, and scalable blockchain infrastructure and solutions has never been greater. Binance has long been a driving force in cryptocurrency innovation, from exchange technology and tokenization to staking and payments.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io