Cripto Exchange Giant Binance gets an investment in Abu Dhabi of 2B

Cripto Exchange Giant Binance said on Wednesday that Abu Dhabi invested $ 2 billion in the company.

Investment signifies the first institutional place in exchange and it is the first investment focused on digitally focused assets for MGKS, according to a announcement. The investment was performed in Stavablecoins, the statement noted, although she did not specify what currency was used.

Binance is the largest crypto exchange in the world trading with over 20 billion daily tony volume, COINMARKETCAP data emissions. The merchant platform has already established the presence in Abu Dhabi, which was employed in the city about 1,000 people in the city.

Branch in Dubai Company, Binance FZE, obtained Virtual Provider Provider (VASP) license from the Dubai Regulatory Organization (Cheats) last year, allowing the company to offer a wide range of exchanging services throughout the United Arab Emirates. Binance affiliates Abu Dhabi was Approved permit to provide custody services by the financial services of Abu Dhabi.

Richard Teng, is now the Director General of Binance, previously led by the Regulatory Authority for financial services of Abu Dhabi.

BNB, BNB binance stem token, jumped 3% to $ 574 immediately on the news before returning the winnings and sliding to $ 550.

Update (11. March 2025, 15:15 UTC): Adds details on binance regulatory licenses in the UAE and BNB price action.