Binance Secures First Corporate Investment... $2 Billion in Size

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Summary

Binance announced that it has secured its first institutional investment of $2 billion from Abu Dhabi-based MGX.
They stated this is the largest investment in virtual asset history using stablecoins.
Through this investment, MGX has secured a small stake in Binance.

Global virtual asset (cryptocurrency) exchange Binance has secured a large-scale investment.

On the 12th (local time), Binance announced through its website that it had received a $2 billion (approximately 2.907 trillion won) investment from MGX, an Abu Dhabi-based technology investment company. This is Binance's first institutional investment and the largest virtual asset-related investment in history using stablecoins. Through this investment, MGX will secure a small stake in Binance.

Richard Teng, CEO of Binance, said, "This investment is a significant turning point for the virtual asset industry," adding, "We will shape the future of digital finance through this partnership."

Ahmed Yahia, CEO of MGX, said, "Binance is an exchange that drives innovation," adding, "We will build a solid digital financial ecosystem together with Binance."