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MGX Makes Record Investment in Binance, Stabilizing the Crypto Market

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by Giorgi Kostiuk

9 hours ago

Abu Dhabi's MGX has made a major investment in Binance, emphasizing the importance of digital assets in the financial industry.

Investment Details

MGX invested $2 billion in Binance, becoming the exchange's first institutional investor. This marks MGX's entry into the cryptocurrency and blockchain sectors.

Binance's Market Position

Binance further solidifies its leadership in the cryptocurrency market, with over 260 million registered users and a trading volume exceeding $100 trillion.

MGX's investment reflects our commitment to advancing blockchain's transformative potential.Ahmed Yahia, MGX's Managing Director and CEO

Strategic Focus Areas

The investment will advance exchange technology, tokenization, staking services, payment systems, and security and compliance. Both companies are committed to creating a transparently regulated crypto industry.

The partnership with MGX is a significant milestone for the crypto industry and for Binance. We aim to build a more inclusive and sustainable ecosystem.Richard Teng, CEO of Binance

This landmark deal underscores the growing mainstream acceptance of cryptocurrency and blockchain, strengthening the UAE's position as a global hub of innovation in the space.

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