The Abu Dhabi-based firm MGX will use a stablecoin linked to the family of US President Donald Trump to resolve a $ 2 billion investment in Binance, the world's largest cryptocurrency exchange.
World Liberty Financial USD (USD1) US Dollar-Pegged Stablecoin was launched by the platform associated with the Crypto Platform World Liberty Financial (WLFI) in March 2025.
MGX will use the USD1 Stablecoin for $ 2 billion investment in the Binance Exchange, according to an announcement by Eric Trump in a panel discussion at token2049 in Dubai. Trump, the President's son, serves as the executive vice president of the Trump Organization.
MGX announced its investment in Binance on March 12, which marked the first institutional investment in the exchange and one of the biggest funding deals throughout the web3 industry.
At this time, Binance declined Cointelegraph's request to reveal what Stablecoin used in the transaction.
It marked the first adventure of the Abu Dhabi firm in the cryptocurrency space.
Related: Trump turned to crypto from the 'oppressed industry' to 'centerpiece' of approach to us
Banks, financial system is “a joke,” Eric Trump says
In the panel discussion, Eric Trump criticized the efficiency and limited operations of the traditional financial system:
“The US finds the world of financial need to develop. It's a joke. Why are banks running nine to five, Monday to Friday, with an hour and a half of lunch rest? It doesn't make sense.”
Sending money around the world through Swift is slow, expensive, and complicated. Crypto makes banks reduced, ”he added.
Related: Stablecoins, tokenized assets get Trump tariffs
The average transaction time with the Swift Payment Network is 20 hours and seven minutes, according to Assessment Published statrys. However, 75% of Swift transactions involve one or two mediators, which means the average 1 day and 11 hours to settle.
In contrast, a USDT (USDT) or USDC (USDC) stablecoin transaction to Ethereum will be left for two to five minutes.
“We are in the stage of the Dialogue of the Crypto Revolution today, and the people who will make it big are the people who see it today, not in five years,” Eric Trump added.
https://www.youtube.com/watch?v=3Dyench-2IS
Magazine: SEC U-Turn to Crypto leaves key questions that are not answered
