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Emirati state-owned investment firm MGX announced a $2 billion investment into Binance, marking the cryptocurrency exchange’s first institutional investment.

It's the first institutional investment in the crypto exchange and the investment was made in stablecoin, Binance said.

Binance secures a $2 billion investment from Abu Dhabi-based MGX, reinforcing its position in the digital asset market.

Binance just secured a $2 billion investment from MGX, an Abu Dhabi-based AI and tech investment giant, according to a press release by the exchange today.

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