Binance, the world’s largest cryptocurrency exchange, has announced that MGX, a UAE-based leader in AI and advanced technology investments, has acquired a minority stake in the platform for $2 billion.
This marks the largest single investment in the cryptocurrency sector and the first institutional investment in Binance.
The investment aligns with MGX’s strategy to support the transformative potential of blockchain technology, driving innovation in emerging sectors such as artificial intelligence and digital economies. This deal represents a significant step in promoting the adoption of digital assets and enhancing the role of blockchain in global finance.
Binance has a strong presence in the UAE, known for its innovative environment and advanced regulatory frameworks for digital assets. The platform employs nearly 1,000 employees out of its global workforce of 5,000 in the UAE.
With over 260 million registered users and a cumulative trading volume exceeding $100 trillion, Binance leads the global cryptocurrency trading sector.
On this occasion, Ahmed Yahya, Managing Director and CEO of MGX, stated: “MGX’s investment in Binance reflects our commitment to developing the transformative potential of blockchain for digital finance.
As institutional adoption accelerates, the need for secure, compliant, and scalable infrastructure and solutions is greater than ever. Binance has long been a driving force in cryptocurrency innovation, from trading technology and tokens to storage and payments. Together, we are committed to building a more inclusive and robust digital financial ecosystem.”
This partnership between MGX and Binance represents a strategic move to foster innovation in AI, blockchain, and digital finance, underscoring both parties’ commitment to driving global digital transformation.
