DIGITAL ASSETS

MGX invests $2 billion in Binance to build dominance in crypto

San Francisco-based crypto payments developer Ripple Labs receives approval to operate by the Dubai International Financial Center

Jason Redmond/Getty Images

Former Binance CEO Changpeng "CZ" Zhao departs federal court in Seattle, Wash., after pleading guilty to money laundering charges last April

Having set leadership in the emerging realm of digital assets as a national goal, the UAE is extending its embrace of Binance, the world’s biggest crypto exchange.

MGX, the tech investment fund created by Abu Dhabi’s Mubadala sovereign wealth...