On March 12, 2025, cryptocurrency giant Binance announced that Abu Dhabi-based investment firm MGX has invested $2 billion in the company. This investment symbolizes the first institutional commitment to Binance and is MGX’s inaugural venture into the digital asset landscape.
Key Takeaways:
- The investment was carried out in stablecoins, though specific details of the currency remain undisclosed.
- Binance continues to dominate as the largest cryptocurrency exchange globally, boasting a trading volume exceeding $20 billion daily.
- The exchange has solidified its footprint in Abu Dhabi, employing around 1,000 staff members.
- Richard Teng, the CEO of Binance, previously led the Abu Dhabi Financial Services Regulatory Authority.
Binance
“This investment will pave the way for further institutional interest in the crypto sector,” Binance stated.
Additional Details:
Binance’s Dubai subsidiary, Binance FZE, obtained a Virtual Asset Service Provider license from the Dubai Virtual Assets Regulatory Authority, enabling it to offer a wide range of trading services throughout the UAE. Additionally, the Abu Dhabi subsidiary has received permission to provide custody services.
