One of the foremost cryptocurrency exchange platforms in the world is partnering with the Malta Stock Exchange to launch a Cryptocurrency Exchange in Malta. The launching has been sealed with a memorandum of understanding between the two parties.
Binance And Malta Stock Exchange Partnership
An exchange specialized in security token trading is set to be launched in Malta. This project is being aided by the partnership of Binance and the Malta Stock Exchange.
Wei Zhou, the chief financial officer of Binance, and Joseph Portelli, the chairman of the Malta Stock Exchange, have both signed a memorandum of understanding on how the new establishment will be created.
The Minister for Finance of Malta, Prof. Edward Scicluna noted that the blockchain technology is revolutionary with great potentials to transform the world.
Prof. Edward further noted that the inherent quality of blockchain technology with its enormous potential is a focus of the country as they aim not to miss a single opportunity in the sphere. However, he noted that the sphere is prone to high level of risks, but it should still not deter annexing the unending benefits it has to offer.
To annex the dividend of the blockchain, a subsidiary of the Malta Stock Exchange, MSX PLC, has been established to aid blockchain projects and related ventures.
Further, Edward discusses other facets of the blockchain and cryptocurrency industry that requires intervention, which is; level of transparency and effectiveness of anti-money laundering tools, and consumer rights policy.
He hopes the country would be able to replicate the success it has achieved in the gaming sector via establishing the Malta Gaming Authority for the blockchain sector as well.
Malta, The Blockchain, and Cryptocurrency Industry
Malta has shown a great interest in blockchain and cryptocurrency, unlike some countries that are only involved in the blockchain technology but sceptical about adopting cryptocurrencies.
The country has been creating a thriving environment for the blockchain industry and cryptocurrency startups. This has attracted the country to many cryptocurrency startups, notably is the Binance and OKEx cryptocurrency exchanges. This makes the country a haven for cryptocurrency industry.
The Malta Stock Exchange has made a similar agreement it made with Binance with other notable firms towards establishing exchanges in the country. BitBay, a crypto exchange from Poland, and investment platform Neufund signed memorandums of understanding with the Malta Stock Exchange as well.