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Binance announced that it has received its first-ever institutional investment from MGX AI. The $2 billion deal is the largest single investment in a cryptocurrency company and the largest investment paid in cryptocurrency. The announcement was made on X on March 12.
According to Reuters, Abu Dhabi-based investment group MGX has invested $2 billion worth of cryptocurrency into Binance, marking the first institutional investment for the world's largest cryptocurrency exchange. This investment signifies a growing acceptance of digital assets among traditional financial institutions.
Cointelegraph reports that the investment was made using stablecoins, a type of cryptocurrency pegged to a fiat currency such as the dollar. This approach reflects the increasing utility and acceptance of cryptocurrencies in large-scale financial transactions, showcasing their viability as a medium for substantial investments.
