Binance invests in MGX by choosing World Liberty Financial's USD1 as its preferred stablecoin.
In a major move, World Liberty Financial's stablecoin, USD1, has been chosen to seal MGX's mammoth $2 billion investment into Binance. This isn't just a drop in the ocean; it's the largest-ever stablecoin-based investment in crypto history, indicating a surge in institutional confidence in these digital assets for high-value transactions.
At the Token2049 conference on May 1, World Liberty Financial co-founder, Zach Witkoff, announced the selection of USD1 as the official stablecoin for MGX's investment into Binance. With a grin, he said, "We're stoked to announce today that USD1 has been tapped as the official stablecoin to close MGX's $2 billion investment in Binance. A big shout-out to MGX and Binance for reposing faith in us, and we reckon it's only the beginning!"
This investment isn't just about the cash; it's about trust, digital transformation, and a step towards bridging the gap between traditional finance and crypto ecosystems.
The deal also brings in the influential Trump family, with Eric Trump and Zach Witkoff at the helm of World Liberty. The Trump family's footprint continues to expand in the crypto world, especially through USD1.
USD1 is also expected to make waves in the DeFi space. It's planning to integrate with Tron’s network, potentially boosting liquidity and enhancing accessibility across decentralized finance platforms.
Despite yet to be listed on centralized exchanges, the use of USD1 in this deal underscores faith in its $2.1 billion market cap and reserves (backed by cash and short-term treasuries).
Moreover, this transaction sets a precedent in the regulatory landscape, confirming the feasibility of stablecoins in settling institutional investments. So buckle up, folks! The stablecoin game just got more exciting. USD1 is eyeing a domineering presence in both CeFi and DeFi ecosystems.
- World Liberty Financial's stablecoin, USD1, has been chosen for MGX's $2 billion investment into Binance, marking the largest-ever stablecoin-based investment in crypto history.
- At Token2049 conference on May 1, Zach Witkoff, co-founder of World Liberty Financial, confirmed USD1 as the official stablecoin for MGX's investment into Binance.
- The Trump family, with Eric Trump and Zach Witkoff leading World Liberty, are expanding their footprint in the crypto world, especially through USD1.
- USD1 is planning to integrate with Tron’s network, potentially boosting liquidity and enhancing accessibility across decentralized finance platforms.
- Despite not being listed on centralized exchanges, the use of USD1 in this deal underscores faith in its $2.1 billion market cap and reserves, backed by cash and short-term treasuries.
- This transaction confirms the feasibility of stablecoins in settling institutional investments, setting a precedent in the regulatory landscape and making the stablecoin game more exciting, with USD1 eying a domineering presence in both CeFi and DeFi ecosystems.
