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The Binary Holdings secures USD 5 mn from ABO Digital: Dubai-based decentralized technology company The Binary Holdings secured an investment of up to USD 5 mn from ABO Digital, a digital asset investment firm, according to a press release (pdf). Valued at USD 16.9 bn, The Binary Holdings has a user base of 169 mn and aims to reach 1 bn users by 2025.
Where will the money go? The funds will be used to expand The Binary Holdings’ decentralized open network by enhancing its integration with existing Web2 infrastructure and developing Web3 capabilities. The fresh capital will support the development of digital services, including cross-border payments, gaming, and social networking features.
In the pipeline: The company plans to launch Millenia, a digital banking platform, in 2Q 2025. Designed for cross-border payments and remittances, the platform will operate within The Binary Network and use BNRY, the network’s native digital currency, as the primary medium for transactions.
