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The investment firm MGX, based in Abu Dhabi, plans to utilize a stablecoin associated with US President Donald Trump\u2019s family to finalize a $2 billion investment in Binance, recognized as the largest cryptocurrency exchange worldwide.<\/p>\n
The World Liberty Financial USD<\/a> (USD1), a dollar-backed stablecoin, was introduced by the Trump-linked crypto platform World Liberty Financial (WLFI) in March 2025.<\/p>\n 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.<\/p>\n MGX declared its<\/a> $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.<\/p>\n During that period, Binance declined Cointelegraph\u2019s request for details on the stablecoin used in the transaction.<\/p>\n This represents the Abu Dhabi-based investment firm\u2019s inaugural foray into the cryptocurrency realm.<\/p>\n Related: <\/strong><\/em>Trump transformed crypto from \u2018oppressed industry\u2019 to \u2018centerpiece\u2019 of US strategy<\/strong><\/em><\/a><\/p>\n During the panel discussion, Eric Trump pointed out the inefficiencies and restricted operating hours of the conventional financial system:<\/p>\n \u201cThe US is realizing that the financial ecosystem needs to advance. It\u2019s absurd. Why do banks operate nine to five, Monday to Friday, with a lunch break of one and a half hours? It\u2019s illogical.\u201d<\/p><\/blockquote>\n Sending funds internationally through SWIFT is sluggish, expensive, and complicated. Crypto renders banks unnecessary,\u201d he elaborated.<\/p>\n Related: <\/strong><\/em>Stablecoins, tokenized assets increase as Trump tariffs approach<\/strong><\/em><\/a><\/p>\n As per analysis<\/a> 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.<\/p>\n In contrast, a USDt (USDT<\/a>) or USDC (USDC<\/a>) stablecoin transaction on Ethereum can settle in two to five minutes.<\/p>\n \u201cWe 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,\u201d Eric Trump added.<\/p>\nBanks, financial system is \u201ca joke,\u201d states Eric Trump<\/h2>\n