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,

The investment came in the form of stablecoins and reflects the growing presence of crypto in the Middle East.

Cryptocurrency exchange Binance received a massive $2 billion investment from Abu Dhabi-based investment firm MGX in the single largest investment into a crypto company.