Cryptocurrency exchange Binance has secured a “landmark” $2 billion investment from MGX, an AI and advanced technology investor based in Abu Dhabi, to accelerate digital asset adoption and strengthen “blockchain’s role in global finance”.

The $2 billion will be paid in stablecoins, making it the largest investment ever paid in crypto and Binance’s first institutional investment.

It also represents the “single largest investment into a crypto company”, the two companies say.

MGX, a state-owned investment firm founded last year, will also gain a minority stake in Binance.

Ahmed Yahia, MGX’s managing director and CEO, says the investment in Binance “reflects our commitment to advancing blockchain’s transformative potential for digital finance”.

Binance is the world’s largest cryptocurrency exchange with over 260 million users and more than $100 trillion in cumulative trading volume.

The company employs 1,000 of its 5,000 global workforce in the UAE.

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