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, Binance said in a statement on Wednesday. The crypto exchange added that the deal is the company’s first-ever institutional investment and is the biggest in the world in a crypto company. Binance didn’t disclose details, including the size of the stake, the completion date of the deal and how it would use the proceeds.
