Abu Dhabi-based investment firm MGX has invested $2 billion in Binance, marking its first institutional investment in the crypto exchange and its debut in digital assets. The investment was made using an unnamed stablecoin.

Binance, the world’s largest crypto exchange by trading volume, but also a company under serious pressure to comply with regulations in other markets, processes over $20 billion daily and employs around 1,000 people in Abu Dhabi.

Binance CEO Richard Teng, who was once the head of Abu Dhabi’s financial regulator, emphasized that this was a strategic partnership. He said:

This investment by MGX is a significant milestone for the crypto industry and for Binance. 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. Binance remains committed to working with regulators worldwide to establish transparent, responsible, and forward-thinking policies for the crypto industry. Our ongoing investments in security and compliance reinforce our mission to foster a secure and trusted digital financial ecosystem.

Following the news, Binance’s native token, BNB, briefly surged 3% before settling at $550. Binance continues to expand its presence in the Middle East.

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