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.

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.

It's the first institutional investment in the crypto exchange and the investment was made in stablecoin, Binance said.

Abu Dhabi-based investment firm MGX has made a landmark $2 billion investment in Binance, the world's largest cryptocurrency exchange. This trans

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,

The deal, which Binance called its first institutional investment, is one of the largest ever in the crypto industry

Abu Dhabi-based technology investment firm MGX has invested $2 billion in Binance, the world's largest cryptocurrency exchange, marking Binance's

Binance secures a $2 billion investment from Abu Dhabi-based MGX, reinforcing its position in the digital asset market.

BNB prices were up Wednesday after Binance announced it secured a $2 billion investment from UAE tech firm MGX, marking the single largest investment in a crypto company so far.

Binance announced Wednesday that Abu Dhabi-based AI and tech investor MGX has put $2 billion into the company, paid in stablecoins.

Binance said in a statement posted on its website that it was the first time it had taken institutional investment. The exchange said the investment was made in stablecoin - a type of cryptocurrency pegged to a fiat currency such as the dollar - without naming a particular coin.