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Binance Partners Malta Stock Exchange To Launch Tokens Platform


Binance, the world's largest cryptocurrency exchange by market capitalization, has extended its partnership with the Malta Stock Exchange (MSE) to launch a new security token exchange in support of Malta's "Blockchain Island" initiative.

MSE's investment vehicle MSX was created in July to seek such partnerships with leading crypto exchanges to create joint ventures in the country.

A Memorandum of Understanding (MoU) to create the new platform was signed by MSE Chairman Joseph Portelli and Binance CFO Wei Zhou in Valletta, Malta.

The new exchange will leverage Binance's digital asset operations and security expertise, along with the MSE's extensive experience in regulatory compliance and client due diligence.

Hong Kong-based Binance set up an operational base in crypto-friendly Malta in late March after it fell out of favor with the Japanese financial regulator for failing to get a license to operate in the country.

Later in June, the two parties joined forces to create the MSX FinTech Accelerator Programme, a startup accelerator to focus primarily on fintech and blockchain projects.

Binance also announced plans to expand further after Malta by agreeing to develop a compliance base and open a cryptocurrency exchange in Channel Islands Jersey.

In mid-July, Hong Kong-based cryptocurrency exchange OKEx also had partnered with MSX to launch a new institutional grade security-tokens trading platform. The new OKMSX platform will be launched by the first quarter of 2019 to service its global clients from Malta.

Malta is welcoming cryptocurrency and blockchain businesses as the small Mediterranean island nation plans to transform itself into a fintech hub and a crypto-friendly "Blockchain island."

Malta is actively building a supportive regulatory and technical infrastructure for Distributed Ledger Technology (DLTs), ICOs and virtual currencies to become the world's first blockchain-regulated state.

On July 4, the Maltese parliament passed three bills to set a regulatory framework and drive innovation in blockchain-like technologies. The government hopes these laws will attract foreign fintech companies to establish themselves in the country.

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