Dhabis

Binance Sells Minority Stake to Abu Dhabi’s MGX Sovereign Wealth Fund for $2 Billion

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Binance has sold off a minority stake to Abu Dhabi-based MGX for $2 billion (roughly Rs. 17,403 crore). MGX is a sovereign wealth management fund led by Sheikh Tahnoon bin Zayed Al Nahyan of the Abu Dhabi royal family. With a focus on advanced tech investments, MGX has funded a bunch of promising AI projects … Read more

Abu Dhabi’s ADQ, FAB and IHC Announce Plans for Dirham-Backed Stablecoin

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A group of Abu Dhabi-based institutions on Monday announced plans to launch a stablecoin, pegged to the United Arab Emirates Dirham (AED). The group comprises Abu Dhabi’s ADQ sovereign wealth fund, the First Abu Dhabi Bank (FAB), and investment firm International Holding Company (IHC). The stablecoin will be regulated by the Central Bank of the … Read more