Home ยป First Ever Consortium Investment of $2 Billion by MGX into Binance for Stablecoin Expansion

First Ever Consortium Investment of $2 Billion by MGX into Binance for Stablecoin Expansion

Binance announces a $2 billion investment from MGX, a venture capital firm from the United Arab Emirates. This marks Binance’s first institutional investor, showcasing confidence in digital financial technology.

In addition to the investment, MGX payment for investing in Binance is in the form of Stablecoin, a cryptocurrency pegged to a fiat currency value without specifying which cryptocurrency. This is considered the largest investment in Stablecoin cryptocurrency to date.

Binance currently has around 1,000 employees in the UAE out of a total of 5,000 worldwide, making it a crucial region and market for cryptocurrency and blockchain services.

TLDR: Binance secures a $2 billion investment from MGX, the first institutional investor, with payment in Stablecoin cryptocurrency. The company’s significant presence in the UAE highlights its importance in the cryptocurrency and blockchain industry.

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