USD1 to Fuel $2 Billion MGX Investment in Binance

The investment firm MGX, based in Abu Dhabi, plans to utilize a stablecoin associated with US President Donald Trump’s family to finalize a $2 billion investment in Binance, recognized as the largest cryptocurrency exchange worldwide.

The World Liberty Financial USD (USD1), a dollar-backed stablecoin, was introduced by the Trump-linked crypto platform World Liberty Financial (WLFI) in March 2025.

According to an announcement by Eric Trump at the Token2049 event in Dubai, MGX will utilize the USD1 stablecoin for its $2 billion investment in the Binance platform. Trump, the president’s son, holds the position of executive vice president at the Trump Organization.

MGX declared its $2 billion stablecoin investment in Binance on March 12, signifying the first institutional investment in the exchange and one of the largest financing agreements within the entire Web3 sector.

During that period, Binance declined Cointelegraph’s request for details on the stablecoin used in the transaction.

This represents the Abu Dhabi-based investment firm’s inaugural foray into the cryptocurrency realm.

Related: Trump transformed crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategy

Banks, financial system is “a joke,” states Eric Trump

During the panel discussion, Eric Trump pointed out the inefficiencies and restricted operating hours of the conventional financial system:

“The US is realizing that the financial ecosystem needs to advance. It’s absurd. Why do banks operate nine to five, Monday to Friday, with a lunch break of one and a half hours? It’s illogical.”

Sending funds internationally through SWIFT is sluggish, expensive, and complicated. Crypto renders banks unnecessary,” he elaborated.

Related: Stablecoins, tokenized assets increase as Trump tariffs approach

As per analysis from Statrys, the average processing time on the SWIFT payment system is 20 hours and seven minutes. However, 75% of SWIFT transactions involve one or two intermediary banks, resulting in an average of 1 day and 11 hours for settlement.

In contrast, a USDt (USDT) or USDC (USDC) stablecoin transaction on Ethereum can settle in two to five minutes.

“We are currently in the dialogue stage of the crypto revolution, and those who will thrive are the ones who recognize it today, not in five years,” Eric Trump added.

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