Binance to Receive $2B MGX Boost Backed by World Liberty’s USD1
Binance is set to receive a $2 billion investment from Abu Dhabi’s MGX, with the entire transaction backed by World Liberty Financial’s (WLFI) stablecoin, USD1. The announcement was made at the Token2049 conference in Dubai by WLFI co-founder Zach Witkoff, marking a significant leap for the newly launched USD1 token.
This high-profile funding deal, now revealed to be settled entirely in USD1, underscores the stablecoin’s rapid ascent. Despite not being listed on major centralized exchanges, USD1 has already surged past a $2.1 billion market cap, making it one of the fastest-growing digital dollar-pegged tokens in the space.
Witkoff hailed the partnership as a major milestone, crediting MGX and Binance’s trust in USD1 as validation of the token’s stability and potential. Eric Trump, speaking at the event, emphasized USD1’s disruptive power, suggesting that it could help bypass traditional financial systems and reduce dependence on centralized institutions and currencies.
Originally launched on Ethereum and Binance Smart Chain, with upcoming expansion to Tron, USD1’s rapid growth is supported by BitGo’s Stablecoin-as-a-Service infrastructure. This platform has played a key role in scaling the token’s adoption at breakneck speed.
While USD1’s meteoric rise is drawing comparisons to stablecoin giants like USDT and USDC, it still has room to grow—especially as it awaits listings on major exchanges like Binance and Coinbase. Observers say that once this happens, USD1 could reshape the global stablecoin landscape, especially given its strong institutional backing and political ties.
