World Liberty Financial’s stablecoin USD1 used for $2 billion investment into Binance
In a groundbreaking move, Abu Dhabi’s AI investment firm MGX has invested $2 billion into Binance using World Liberty Financial’s stablecoin, USD1.
During the Token2049 conference on May 1, World Liberty Financial co-founder Zach Witkoff announced that USD1 had been chosen as the official stablecoin for MGX’s historic investment into Binance.
Witkoff expressed his excitement, stating, “We are thrilled to reveal that USD1 has been selected as the stablecoin to finalize MGX’s $2 billion investment in Binance. We are grateful to MGX and Binance for their confidence in us, and I believe this is just the beginning of our partnership.”
This investment represents the largest single investment ever made into a cryptocurrency company, as well as the largest investment ever conducted using stablecoins.
Stay tuned for further updates on this developing story.