The world’s biggest cryptocurrency exchange, Binance is continuing to expand its presence in Malta – known as the “Blockchain Island” by its crypto regulations. Earlier this year, the world’s leading exchange opened its office in Malta after Japanese financial authorities sent a warning letter about its unregistered status.
This week Binance announced to launch a new digital exchange specified on trading security tokens, as a partnership with the Malta Stock Exchange.
On Tuesday, The chief financial officer of Binance Wei Zhou and The Malta Stock Exchange (MSX) chairman Joseph Portelli signed the agreement with the attendance of Malta’s Minister for Finance, Prof Edward Scicluna.
Addressing to the press release, Scicluna described blockchain technology as a world changing revolution, and how Malta as a country would not let any good opportunities to just pass by. The minister then stated, that blockchain and cryptocurrencies doesn’t come without any risks, neither any other new technologies.
“This is not an excuse to let it go by and be taken up by others,” Scicluna said, meaning that this was the “prudent route” for Malta.
The upcoming trading platform is going to benefit from both sides; The 26-years old history of MSX operating as a regulated stock exchange, and the global capacity and the intensive determination of the business model of Binance will make a great mixture for the new platform.
The new upcoming digital exchange is going to be a second, recently announced trading platform in Malta. In August, Polish cryptocurrency exchange Bitbay and investment platform Neufund launched same kind of agreement with MSX.
Author: Sarah Tuuli