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. The exchange said the investment was made in stablecoin – a type of cryptocurrency pegged to a fiat currency such as the dollar – without naming a particular coin.
“MGX’s investment in Binance reflects our commitment to advancing blockchain’s transformative potential for digital finance,” said Ahmed Yahia, managing director and CEO of MGX, in the statement.
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