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,

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.

Abu Dhabi sovereign wealth fund-backed artificial intelligence investor MGX entered the cryptocurrency and blockchain sectors with a $2 billion investment in crypto exchange Binance. MGX is an AI and advanced technology investor founded by $302 billion sovereign wealth fund Mubadala,