Binance Lands $2 Billion From MGX, Deal Done Entirely in USD1 Stablecoin
- MGX invests $2 billion in Binance using USD1, the Trump-backed stablecoin.
- Binance deal marks the largest stablecoin-funded investment to date.
- USD1 will integrate with Tron and expand into Pakistan’s crypto sector.
Abu Dhabi-based tech investment firm MGX has finalized a $2 billion investment in Binance using USD1, a dollar-backed stablecoin developed by World Liberty Financial. The deal, announced during the TOKEN2049 conference in Dubai, marks the largest institutional investment done entirely using stablecoins.
The announcement of this major investment was made at the Token2049 conference in Dubai, where Eric Trump, son of the US President Donald Trump, revealed additional USD1 news. He stated USD1 will integrate with the Tron blockchain, backed by crypto mogul Justin Sun.
USD1: Trump-Backed Stablecoin Gains Traction
USD1 was launched earlier this year by World Liberty Financial, a fintech company in which the Trump family holds a 60% ownership stake.
Designed in partnership with custody provider BitGo, USD1 is fully backed by short-term US Treasuries and cash equivalents, promising a level of transparency and consumer protection not always ass…
The post Binance Lands $2 Billion From MGX, Deal Done Entirely in USD1 Stablecoin appeared first on Coin Edition.
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Binance Lands $2 Billion From MGX, Deal Done Entirely in USD1 Stablecoin
- MGX invests $2 billion in Binance using USD1, the Trump-backed stablecoin.
- Binance deal marks the largest stablecoin-funded investment to date.
- USD1 will integrate with Tron and expand into Pakistan’s crypto sector.
Abu Dhabi-based tech investment firm MGX has finalized a $2 billion investment in Binance using USD1, a dollar-backed stablecoin developed by World Liberty Financial. The deal, announced during the TOKEN2049 conference in Dubai, marks the largest institutional investment done entirely using stablecoins.
The announcement of this major investment was made at the Token2049 conference in Dubai, where Eric Trump, son of the US President Donald Trump, revealed additional USD1 news. He stated USD1 will integrate with the Tron blockchain, backed by crypto mogul Justin Sun.
USD1: Trump-Backed Stablecoin Gains Traction
USD1 was launched earlier this year by World Liberty Financial, a fintech company in which the Trump family holds a 60% ownership stake.
Designed in partnership with custody provider BitGo, USD1 is fully backed by short-term US Treasuries and cash equivalents, promising a level of transparency and consumer protection not always ass…
The post Binance Lands $2 Billion From MGX, Deal Done Entirely in USD1 Stablecoin appeared first on Coin Edition.
Read More
Binance Alpha Launch Sends SHADOW Price From $27 to $44 in One Hour