Eric Trump says MGX’s $2B Binance investment will be settled with World Liberty Stablecoin
Eric Trump has announced that the dollar supported by World Liberty Financial Stablecoin (USD1) will officially be the official Stablecoin used to close MGX's $ 2 billion investment in Binance. He also said the USD1 would be included in the Tron Network supported by billionaire Justin Sun.
During the token2049 in Dubai, Trump announced That WLF USD Stablecoin (USD1) has been selected as the official Stablecoin for $ 2 billion MGX investment in Binance. Zach Witkoff, co-founder of the World Liberty Financial, is teasing more future partnerships for the Defi Protocol, adding that the platform aimed at promoting the USD1 as the preferred Stablecoin to the defi and cefi ecosystem, and the WLF team is working hard to get involved in the traditional sales system.
Trump says MGX will use USD1 to complete Binance Investment
Only to: 🇺🇸🇦🇪 Eric Trump announced the Stablecoin of World Liberty Financial, $ USD1, will be used for $ 2 billion MGX investment in Binance. pic.twitter.com/wuuvbqky5y
– mrrebel.eth (@rebelethpromos) May 1, 2025
Trump has announced that the Abu Dhabi MGX will use USD1 Stablecoin to improve a $ 2 billion investment in Binance in one of the biggest crypto funding deals, marked the first investment firm adventure in the crypto space.
The President's son points out that the world is in the stage of the 'Crypto revolution,' people who are doing great people who see today, 'not in five years when half of explosive growth has occurred'. He also criticized the efficiency and limited operations of the traditional financial system, calling it all jokes.
Trump noted that sending funds worldwide through SWIFT is slow, costly, and complex, emphasizing that crypto [almost] Banks were made.
A review report published by Statrys said the average transaction time on the Swift Payment Network was 20 hours and seven minutes. In addition, 75% of Swift transactions involve one or two mediators, which means the average 1 day and 11 hours to settle. However, a USDT or USDC Stablecoin transaction with Ethereum runs within two to five minutes.
“The USD1 will be one of the most transparent and regulated stablecoins in the world … Not only do we want to create a product in our stable USD point, one that can be sent to the boundaries in a very seam, but transparency and openly, consumer safety is most important …”
-Eric Trump, son of President Donald Trump
Witkoff also said the platform aimed at addressing the gaps that exist in the traditional financial system, including a lack of transparency, access, and inability to cross-border payments. According to Witkoff, the company's goal is to deduce access to the financial financial and bridge system with traditional finances.
Binance says MGX's deal is a major milestone for the exchange
According to Binance, dealing with MGX is the first institutional investment in Binance to this day, the one biggest investment in a crypto company, and the biggest investment fully paid to crypto.
Binance CEO Richard Teng also said that the ongoing investment of security and compliance has strengthened the company's mission to support a safe and trusted digital financial ecosystem. He added that MGX investment is a well -known milestone for the crypto industry and Binance is working with regulators around the world to promote transparent, responsible, and forward policies for the crypto industry.
The investment further strengthens the presence of Binance in the Middle East, where it currently has more than 1K employees, and strengthens the regulation and approach to global expansion. Teng said Binance was working with MGX to develop the future of digital finances, and the goal was to produce a more inclusive and sustainable ecosystem with a strong focus on compliance, security, and user protection.
Binance also launched 'Fund Accounts' recently, which became the first crypto exchange that offered this feature. According to the exchange team, the initiative aimed at bridge is the gap between crypto and traditional finances (Tradfi) for institutional users, improving the platform's appeal to professional investors such as MGX.
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