Mubadala G42 X, controlled by Mubadala Investment, will become a minority shareholder of the Binance cryptocurrency exchange. A stake package will be paid $ 2 billion in stabilcoins tied to the US dollar.
Representatives of Binance and MGX did not comment on the “coordinated exchange rights”, the size of the share and – which stabilcoin was used for the transaction. Historically, this is the first large-scale investment of the legal entity in Binance, ever paid for cryptocurrency.
The Mubadala G42 X, also known as the MGX, was established by the Abu-Daby (AIATC) advice and advanced technologies. The actual control over MGX is in the hands of the Abu Dhabi government, or rather, the royal family of Al Nahayan. The chairman of the Board of Directors of MGX is the National Security Council of the UAE Sheikh Tahnun Bin Zaded Al Nahayan.
Earlier, the co -founder of Binance He Yi wrote that the crypto -rope is open to mergers and acquisitions, and also does not exclude the involvement of strategic partners to cooperation.
Source: Bits
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