Abu Dhabi-based investment firm, MGX, has made a significant move in the cryptocurrency space by announcing a $2 billion investment in Binance, the world's largest cryptocurrency exchange. What makes this investment unique is that MGX will be using a stablecoin linked to the family of US President Donald Trump to settle the transaction.

The stablecoin in question is the World Liberty Financial USD (USD1), a US dollar-pegged stablecoin launched by the Trump-associated crypto platform World Liberty Financial (WLFI) in March 2025. Eric Trump, the son of the president and executive vice president of the Trump Organization, revealed this development during a panel discussion at Token2049 in Dubai.

This investment marks MGX's foray into the cryptocurrency space and represents the first institutional investment in Binance. The use of a stablecoin for such a large investment showcases the growing acceptance and adoption of digital assets in traditional financial transactions.

During the panel discussion, Eric Trump also took the opportunity to criticize the inefficiencies of the traditional financial system, highlighting the limited operating hours of banks and the slow, costly, and complex nature of international money transfers through systems like SWIFT. He emphasized that cryptocurrencies offer a more efficient and decentralized alternative, making banks redundant in many aspects.

The comparison between the settlement times of traditional banking systems like SWIFT and blockchain-based stablecoin transactions further underscores the advantages of cryptocurrencies. While SWIFT transactions can take over 20 hours to settle, stablecoin transactions on platforms like Ethereum can be completed within minutes, offering a significant improvement in speed and efficiency.

Eric Trump's comments reflect a growing sentiment within the cryptocurrency community that traditional financial systems are outdated and in need of reform. The shift towards digital assets and blockchain technology is seen as a way to modernize and streamline financial transactions on a global scale.

Overall, MGX's investment in Binance using a Trump-linked stablecoin signals a significant milestone in the convergence of traditional finance and the cryptocurrency industry. It also highlights the potential for stablecoins to play a crucial role in facilitating large-scale investments and transactions in the future.

Source: https://cointelegraph.com/news/eric-trump-usd1-used-2-b-mgx-investment-binance?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound