Abu Dhabi firm to invest $2bn in Binance using Trump’s crypto venture
by Reuters from World news | The Guardian on (#6X0EW)
World Liberty Financial's USD1 will be used to close MGX's investment in world's biggest crypto exchange
A stablecoin launched by Donald Trump's World Liberty Financial cryptocurrency venture is being used by an Abu Dhabi investment firm for its $2bn investment in crypto exchange Binance, one of World Liberty's co-founders said on Thursday.
World Liberty, which aims to allow people to access financial services without intermediaries like banks, said in March it would launch USD1, a dollar-pegged stablecoin backed by US treasuries, dollars and other cash equivalents.
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