Business Desk 
Mar 13, 2025
Binance has secured a major investment from an Abu Dhabi-backed group. MGX, an investment firm focused on AI and advanced technologies, has invested $2 billion in Binance.
The investment, announced on Wednesday, makes MGX a minority shareholder in Binance, marking it one of the biggest deals in the crypto industry.
UAE makes $2bn investment in Binance
The deal was made using stablecoin, a digital currency tied to traditional money like the US dollar. However, Binance and MGX did not reveal which stablecoin was used or the exact size of MGX’s stake.
Founded in 2017, Binance quickly became the top crypto exchange by offering a platform for trading Bitcoin and other digital assets. The company faced legal troubles last year when its founder, Changpeng Zhao (CZ), pleaded guilty to violating US money laundering laws.
After CZ’s exit Abu Dhabi’s Financial Services Authority former head Richard Teng took over as CEO. Under his leadership, Binance has strengthened its presence in the UAE, where it employs 1,000 of its 5,000 global staff.
This investment is MGX's first public foray into cryptocurrency. The company founded a year ago, seeks to drive the adoption of AI and blockchain technologies.
Binance stated that the partnership will drive its business further and improve its crypto services globally. The step also reflects the UAE's increasing influence in digital finance.
