MGX Abu -Dobli invest $ 2 billion in krypt

The state investment firm Emirati MGX has announced an investment in Binance $ 2 billion, which notes the first institutional investments in the cryptocurrencies and the “single largest investment” someday into the cry.

In A A joint press -releaseThe firms said the minority’s share would be paid in stable categories, which will make it “the largest investments, which if you are” paid in cryptocurrency. Stablecoins is a type of digital asset designed for a constant value, usually with a tributary to a fiat currency.

Last year Abu -Dobby launched an MGX investment firm with an emphasis on AI Technology. In September MGX administrator With similar Black and Microsoft To launch more than $ 30 billion in the AI ​​Foundation, but it was still to invest in the cryptocurrency industry and the blockchain sectors.

“MGX investments in Binance reflect our commitment to promoting the Blockchain transformation potential for digital finance,” Ahmed Yakiah, head of MGX said in a statement.

The press release adds that “by cooperating with the leading industry player, MGX seeks to provide innovation at the crossing of AI, technology and finance blockchain.”

Binance and MGX did not immediately commented on the size of the share or what stablecoin will be used for payment. Binance did not respond to the investigation of whether the deal was completed.

As part of the broader UAE ambitions to become Global Technology leaderit grows into Regional Crypto -Center.

Binance, the largest exchange of cryptocurrencies in the world grown its mark in the Middle East As it collided

According to the press release, the Binance has approximately 1000 of its approximately 5,000 global labor in the UAE. This adds that it now boasts more than 260 million registered users and exceeded $ 100 trillion in total bidding.

It is planned that Binance CEO Richard Teng will take part in the panel session at CNBC Converge Live in Singapore at 14:40 local time (2:40 am) on Thursday.