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International Business Times
International Business Times
Business
Marvie Basilan

$BNB Pumps After Binance Secures 'Single Largest Investment' In Crypto From Abu Dhabi's MGX

MGX BNB SEC Crypto Abu Dhabi UAE Bitcoin blockchain
Binance (Credit: Kanchanara/Unsplash)

KEY POINTS

  • MGX's CEO said the investment reflects the company's 'commitment to advancing blockchain's transformative potential for digital finance'
  • Binance's Teng said the investment is a significant milestone not just for the exchange but also for the broader crypto industry
  • Binance secured a VASP from Dubai's regulatory authority last year as it continues to expand its reach in the UAE

Cryptocurrency exchange giant Binance has secured a multi-billion-dollar investment from Abu Dhabi-based MGX, a company specializing in artificial intelligence and technology, calling it the "single largest investment into a crypto company."

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