World Liberty Financial’s USD1 selected as official stablecoin for MGX’s Binance investment
World Liberty Financial’s stablecoin, USD1, has been used to facilitate Abu Dhabi’s AI investment firm MGX’s landmark $2 billion investment into Binance.
At Token2049 on May 1, World Liberty Financial co-founder Zach Witkoff confirmed that the project’s USD-pegged stablecoin, USD1, has been selected as the official stablecoin for MGX’s investment into Binance.
“We are excited to announce today that USD1 has been selected as the official stablecoin to close MGX’s $2 billion investment in Binance. We thank MGX and Binance for their trust in us and I think it’s only the beginning,” said Witkoff during the conference.
The investment marks the single largest investment eve made into a crypto company as well as the largest investment ever paid in stablecoins.
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