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,

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,

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