Fintech and the digital subsidiary of MSX PLC of the Malta Stock Exchange have signed a Memorandum of Understanding (MOU) with Binance cryptographic exchange to jointly launch a new digital security token exchange, according to a press release shared with Cointelegraph l & # 39; 11 September.
The press release launches the next floating trading platform to benefit from the "26 years of experience in the stock market as a regulated stock exchange" of the Malta Stock Exchange, with the dynamism and international reach of the Binance business model.
As reported previously, Binance has constantly expanded its commercial presence in Malta, a country whose pro-cryptography policy has earned itself the nickname "Blockchain Island". Binance CEO Changpeng Zhao, also known as CZ, said:  "Malta […] has become a global center for blockchain technology through active and transparent cryptographic regulations.This partnership will allow Binance and MSX to host traditional financial resources on blockchain technology through security tokens. "
The president of the Malta Stock Exchange, Joe Portelli, stated that the initiative represents a" new market opportunity "[to] to develop and push the boundaries of the Maltese financial sector. "
As Cointelegraph reported, Binance announced the opening of its office in Malta at the end of March, after receiving a warning letter from the Japanese financial authorities about its unregistered status  All & # 39. Beginning this summer, CZ told Cointelegraph in an exclusive interview that the exchange had opened a bank account on the island, paving the way for the introduction of fiat encryption pairs. The company subsequently referred to the exchange plans to open a platform based in Malta for this purpose
Binance is currently the world's largest cryptocurrency exchange with a 24-hour trading volume, with a forecast of almost $ 822 million of exchanges on the day for the press In July, CZ told Bloomberg that it "expects" the exchange – which recently extended its international operations in Uganda – to reach $ 1mil profits in 2018.