MGKS Abu Dhabi to invest $ 2 billion in a Clystan Cripto

Emirates in the State Investment Firms MGKS announced investments of $ 2 billion in stage, in what means the first institutional investment investment cripptocurrency exchange and “one largest investment” ever in crypt.

In a Joint press releaseThe company said that a minority share would be paid in Stablecoins, which makes it “the largest investments ever” paid in cryptocurrency. StableCoins are a type of digital asset designed to keep constant value, usually with PEG in the fiat.

Abu Dhabi started the MGX investment firm with a focus last year AI Technology. In September, MGKS united with likes Balkrock and Microsoft To start more than 30 billion ai fund, but it was yet to invest in the cryptocurnancy industry and block.

“MGKS investments in the binasha reflects our commitment to the progress of Blokchain’s transformative potential for digital finances”, Ahmed Yahia, General Manager and CEO in the MGK, said in the statement.

Press release has added that “partnership with the leading MGX player, aims to enable innovation at the intersection of AI, Blokchain technology and finance.”

Binance and the MGK did not immediately comment on the size of the share or what stablecoin will be used for the payment. Binance did not answer the investigation of whether the agreement was completed.

As part of the wider ambition of the UAE to become Global technology leaderthat grew up in Regional Cripto Hub.

Binance, the largest exchange of cryptocurrency in the world is He breeded his draft footprint As faced with regulatory obstacles and executive measures in other jurisdictions in recent years,

According to the press release, the stage employs about 1,000 its approximately 5,000 global labor force in the UAE. He adds that over 260 million registered users first praised and the $ 100 trial was overlooked in the cumulative trading volume.

The director of Binance Richard Teng is scheduled to participate in the Panel Session at CNBC Converge Live in Singapore at 2:40 PM, local time (02:40 ET) on Thursday.