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Binance to Launch Security Tokens Trading Platform with Malta Stock Exchange

September 12

Binance teams up with malta stock exchange to launch security token trading platform

The largest cryptocurrency exchange in the world Binance is partnering up with the Malta Stock Exchange (MSX). They are looking forward to introducing security token trading on the island.

Wei Zhou, the chief financial officer of the exchange, signed a memorandum of understanding with Joe Portelli, the chairman of Malta Stock Exchange, to launch a trading platform for security tokens, Malta Today reports.

A full report is available on Binance and Malta Stock Exchange to launch security tokens trading platform”

Edward Scicluna, the finance minister of Malta, is optimistic towards cryptocurrencies and was happy to hear the plans. He said that Malta will not miss such an opportunity to take advantage of new innovations and technologies.

Understandably, blockchain and cryptocurrencies come with their own risks, but Scicluna said:

"This is not an excuse to let it go by and be taken up by others."

Joe Portelli agreed to his comment and assured:

“Whether you like it or not, the technology is here to stay."

Scicluna said that the country hired the best people in the legal field to create an appropriate and friendly regulatory framework for cryptocurrency industry. MSX established a new entity called MSC PLC which is used to explore and research financial technologies and virtual assets.

Binance exchange has been working with Malta for quite some time now. In March, Binance announced its plans to establish an office in Malta as well as a fiat-to-crypto exchange. In June, they said that fintech startups and entrepreneurs will be supported together with Malta Stock Exchange.

In July, MSX partnered with Neufund, a security tokenization platform. They will be building a "regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets." Binance, at the same time, got a 5% stake in the Founders Bank in Malta. Their goal is to build a decentralized bank which will be based on blockchain technology. Also, the bank had plans to partner with Neufund to issue their own legally-binding equity tokens.

Sources: Coindesk

Malta Stock Exchange Image from Wavetec

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