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Binance, the world's largest encrypted volume exchange, is working with the Malta Stock Exchange (MSX) to enable security token trading on "blockchain island", a local news site reported Tuesday
. the official, Wei Zhou, signed a memorandum of understanding with MSX president Joe Portelli to launch a security token exchange platform, reported Malta Today.
Malta's Minister of Finance, Edward Scicluna, praised the crypto industry at a press conference, saying the nation Do not miss the opportunity to take advantage of new innovations.
Although blockchain and cryptocurrencies have their risks, "this is not an excuse to let go and get caught by others," he said.
Portelli accepted, saying at the press conference that "whether you like it or not, technology is here to stay."
Scicluna also noted that the country has pledged its best legal minds to create an appropriate regulatory framework for crypto industry. MSX, in particular, had established a new entity, the MSX PLC, specifically to explore financial technology and digital resources.
Binance worked for a while with the Maltese authorities: in March the company announced the intention to set up an office and a fiat -to-cryptocurrency exchange in Malta, and in June, it said that it would support start-ups and fintech entrepreneurs together with the Malta Stock Exchange.
In July, MSX worked with Neufund, a platform for securities tokenization, to build a "regulated and decentralized global stock exchange for the listing and negotiation of tokenized securities along with crypt-assets". At the same time, Binance acquired a 5% stake in Founders Bank in Malta, with the goal of building a "decentralized bank" with a blockchain-based system. The bank was planning to work with Neufund to issue its "legally binding" stock tokens.
Image of the Malta flag via Shutterstock
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