Binance, the world’s biggest crypto exchange, recently announced that MGX Fund Management Limited (MGX), an Emirati state-owned investment firm for artificial intelligence (AI) technologies, has invested $2 billion in its global exchange platform.
We are excited to announce the first-ever institutional investment in Binance by @mgx_ai.
This is a significant step in advancing digital asset adoption and reinforcing blockchain’s role in global finance.
The $2B investment is also the single largest investment into a crypto… pic.twitter.com/fjZQBqSyC4
— Binance (@binance) March 12, 2025
$2 Billion in Binance
As revealed by Binance, MGX invested in a stablecoin, displaying trust in the crypto and blockchain technology. Thus, the Abu Dhabi investor will become a minority shareholder in the leading exchange.
Notably, this investment deal is the exchange’s first institutional investment and one of the largest ever in crypto history. It is also MGX’s first entry into the cryptocurrency and blockchain ecosystem.
“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,” said Binance CEO Richard Teng.
Remarkably, Teng was a high-ranking executive at the Abu Dhabi Financial Services Authority. Thus, he was instrumental in obtaining the investment.
UAE Crypto Market Booms
Through innovation and regulatory compliance, Binance has established itself in the UAE crypto market. The exchange employs about 1,000 to 5,000 UAE workers.
The UAE has recently gone pro-crypto, allowing many exchanges to operate within its borders and exposing its citizens to blockchain technology. In a recent amendment, the Dubai Court of First Instance ruled that cryptocurrency can be used as a valid form of payment for employee salaries as agreed in the employment contract.
Additionally, the Dubai Financial Services Authority (DFSA) has approved popular stablecoin issuer Circle to offer its USD Coin (USDC) and EURC within the Dubai International Financial Centre (DIFC). The approval makes the tokens the first stablecoins to be officially recognized under the agency’s framework.
Meanwhile, Tether, the leading stablecoin provider, has revealed plans to enter the UAE market by issuing a stablecoin pegged to the UAE Dirham.
