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Binance has secured the largest ever funding in a crypto firm, with Abu Dhabi-based AI investor MGX pumping $2 billion into the world’s largest change.
In a March 12 put up on X, Binance known as the deal its “first-ever” exterior funding and the 2 companies mentioned in a joint press launch that the minority stake could be paid for in stablecoins, making it the biggest ever made utilizing crypto.
Binance’s native BNB token has surged 4% up to now 24 hours to commerce at $577 as of two:20 a.m. EST, in response to CoinMarketCap.
Binance Funding Half Of MGX’s Focus On AI, Blockchain And Finance
The MGX funding agency was launched final 12 months, with a deal with supporting the intersection of synthetic intelligence (AI), blockchain and finance.
MGX, an Abu Dhabi sovereign wealth fund, invests $2 billion in @Binance for a minority stake. The transaction shall be 100% in crypto (stablecoins), marking it the biggest funding transaction completed in crypto thus far.
That is additionally the primary institutional funding @Binance has…
— CZ 🔶 BNB (@cz_binance) March 12, 2025
In September, the agency partnered with BlackRock and Microsoft to launch a devoted AI fund that hopes to lift as much as $30 billion. MGX has additionally invested in OpenAI and Elon Musk’s xAI.
The funding in Binance is a part of MGX’s push to advance “blockchain’s transformative potential for digital finance,” mentioned CEO Ahmed Yahia.
Binance’s Rising UAE Footprint
The funding from MGX comes after Binance’s Dubai subsidiary, Binance FZE, obtained a Digital Asset Service Supplier (VASP) license from Dubai’s Digital Property Regulatory Authority (VARA).
Binance’s Abu Dhabi subsidiary was additionally granted permission to supply custody companies by the Abu Dhabi Monetary Providers Regulatory Authority.
Earlier than taking up from Changpeng Zhao, aka CZ, Binance CEO Richard Teng had beforehand headed the Abu Dhabi Monetary Providers Regulatory Authority.
Binance mentioned it has about 1,000 of its 5,000 international workforce based mostly within the UAE.
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