Cryptocurrency exchange Binance said on Wednesday Abu Dhabi investment group MGX had invested $2 billion worth of cryptocurrency into the company. Binance said in a statement posted on its website that it was the first time it had taken institutional investment.

Binance said on Wednesday that United Arab Emirates state-backed investor MGX has acquired a minority stake in the world’s largest crypto exchange for $2 billion. The transaction was paid for in stablecoin,

Coinbase on Tuesday said it had been given permission to register with India’s Financial Intelligence Unit, an anti-money laundering watchdog, and planned to start offering retail services later this year before branching out into “investment and products” in the world’s most populous nation.