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

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

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.

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