The world’s largest cryptocurrency exchange platform, Binance, received a $2 billion investment from Emirati state-owned investor MGX on Wednesday.
The investment, disbursed using stablecoin, marks the single largest investment into a crypto company and the largest investment paid in crypto, according to the release.
“This investment by MGX is a significant milestone for the crypto industry and for Binance,” said Richard Teng, Binance CEO, in a statement. “Together, we are shaping the future of digital finance. Our goal is to build a more inclusive and sustainable ecosystem, with a strong focus on compliance, security and user protection.”
MGX was established last year by the government of Abu Dhabi in the United Arab Emirates to invest in artificial intelligence projects and companies. The fund is a collaboration between Abu Dhabi sovereign wealth fund Mubadala Investment Company PJSC and the private artificial intelligence…
