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,

In a joint press release, the firms said the minority stake would be paid for in stablecoins, making it the biggest investment ever paid in cryptocurrency. A joint press release noted that "by partnering with the leading industry player,

Abu Dhabi investment group MGX has invested $2 billion worth of cryptocurrency into Binance, in what the world's largest cryptocurrency exchange said on Wednesday was its first institutional investment.