Binance and OKEx set up Malta Security Token Exchange
One of the largest cryptocurrency exchanges on the map reached an agreement with the Malta Stock Exchange to host a traditional assets exchange platform using blockchain-based security tokens.
Malta takes the helm
In a press release earlier this month, MSX, the fintech and digital asset subsidiary of the Malta Stock Exchange revealed that it signed a memorandum of understanding with Binance to launch a security tokens trading desk.
Malta Stock Exchange chairman Joe Portelli commented: “Malta is taking the helm of regulating blockchain technology and cultivating a center of excellence within the global digital innovation landscape”.
The move comes as integration between Binance and Malta goes to the next level, with the country having previously committed to becoming a “Blockchain Island” through the implementation of friendly regulation governing both blockchain technology and cryptocurrency.
A crowded country
In July, the exchange revealed its plans to make the country a host of the world’s first decentralized tokenized bank, while Maltese government officials had openly welcomed it to its shores when it first relocated from Hong Kong in March.
“We are excited to continue to help build the blockchain ecosystem in Malta, which has become a global hub for blockchain technology through active and transparent crypto regulations,” CEO Changpeng Zhao stated.
He continued: “This partnership will allow Binance and MSX to host traditional financial assets on blockchain technology through security tokens. We look forward to bringing more innovations to Malta and further establishing our presence here.”
Binance isn’t the only exchange to be making moves to the sunny island. In fact, OKEx, the international arm of Chinese platform OKcoin also signed an agreement to create a security token trading platform back in July.
“Malta is on the cusp of becoming a center of excellence within the global digital innovation landscape,” Portelli said at the time.
“We are thrilled to be teaming up with OKEx, a leader in the digital currency sector, to leverage our expertise on the compliance and regulatory front to truly be a trailblazer within the security token sector.”