Binance said Abu Dhabi’s MGX has acquired a minority stake for $2 billion, the first institutional investment in the world’s largest cryptocurrency exchange.

Binance, the world’s largest cryptocurrency exchange by trading volume, has sold a minority stake to United Arab Emirates state-owned investment firm MGX for $2 billion. The deal was paid in an unnamed stablecoin,

By Elizabeth Howcroft and Federico Maccioni DUBAI (Reuters) -Abu Dhabi-backed investment group MGX has made a $2 billion cryptocurrency investment in Binance, the companies said on Wednesday, deepening ties between the world's largest crypto exchange and the United Arab Emirates.