Binance provides $ 2 billion from MGX in Abu Dhabi with a high interest in institutional encryption – Tradingview News
The investment company in Abu Dhabi MGX has invested two billion dollars in the exchange of Crypto in one of the latest major institutional investment deals in the encryption space.
According to Exchange today (Wednesday), the transaction is fully organized in Stablecoins and is one of the main Binance highlights as the UAE is enhancing the area of digital assets.
“With the acceleration of institutional adoption, the need for infrastructure and safe and compatible and developed solutions was not larger. Ahmed Yahya, the administrative director of MGX CEO, said that Binance was a long driving force in creating cryptocurrency, from exchange technology and symbol to payments and payments.”
We are excited to announce the first institutional investment ever in Binance MGX_AI.
This is an important step in progressing digital assets and enhancing the role of Blockchain in global financing.
$ 2B investment is also the largest individual investment in encryption … pic.twitter.com/fjzqbqsyc4
The minority share in Binance
The MGX deal makes the minority contributor to the largest encryption exchange in the world, although Binance has not revealed specific details about governance rights or the user’s Stablecooin.
This investment comes at a time when Binance deepens its links with the United Arab Emirates during the era of CEO Richard Ting, who succeeded Changing Chau (CZ) after his legal suspicions in the United States
Earlier, Ting led the Financial Services Authority in Abu Dhabi, and he supervised the increasing presence of Bunans in the region. The United Arab Emirates has placed itself as a global pioneer in digital assets, with the aim of attracting higher encryption companies as part of the economic diversification strategy.
“This investment by MGX is an important milestone for the encryption industry and for nations. Together, we are the future of digital financing. Ting commented:” Our goal is to build a more comprehensive and sustainable environmental system, with a strong focus on compliance, security and user protection. ”
Reuters reported that MGX, headed by Sheikh Tahana bin Zayed Al Nahyan, National Security Adviser in the United Arab Emirates, also invested in companies that focus on artificial intelligence such as Openai and Elon Musk’s Xai.
Investment of institutional encryption
The deal comes amid emission in the encryption market, as Bitcoin has reached its highest levels ever after the recent political developments in the accuracy of the United States, despite facing organizational scrutiny, in the search for a global headquarters to enhance transparency. Last year, the Stock Exchange settled on the legal issues of 4.3 billion dollars, which is under investigation in France for the alleged financial misconduct.
The MGX investment represents a milestone for Eanguence, indicating a shift towards institutional support in the encryption industry. As organizational challenges continue, a more stable partnership with a more stable entity can provide a more stable entity in the sophisticated digital financing scene.
While Binance transports organizational pressures and transformations on the market, the investment of both $ 2 billion confirms the flexibility and role of the United Arab Emirates in shaping the future of encryption.
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