OKEx, considered to be the largest cryptocurrency exchange by trading volume, has partnered with the Malta Stock Exchange (MSE) to create a trading platform for security tokens. This is the second development in a day, with Binance and Neufund recently announcing a similar partnership with the MSE.
The partnership was formalized in the form of a Memorandum of Understanding (MoU) signed in Valletta, Malta on July 19, 2018. Both parties will endeavour to finalize a Joint Venture to be established by the third quarter 2018.
— Malta Stock Exchange (@MaltaStockExch) July 19, 2018
The new exchange will operate under the name OKMSX and will leverage OKEx’s digital asset operations and security expertise, along with the Malta Stock Exchange’s 26-year track record of operating as a regulated stock exchange with extensive experience in regulatory compliance and client due diligence. OKMSX will be well positioned to develop an institutional grade security-tokens trading platform, according to OKEx. This new platform will launch in the first quarter of 2019, catering to global clients.
“Malta is taking the helm of regulating the blockchain technology and cultivating a regulated cryptocurrency and ICO epicentre. This joint venture marks our confidence in the Maltese government as well as our commitment to providing an efficient, secure, and transparent blockchain trading environment to clients worldwide. We believe OKMSX will be a milestone in the economic development of Malta,” said Tim Byun, chief risk officer and head of government relations of OKEx.
Joseph Portelli, chairman of the Malta Stock Exchange, said, “Malta is on the cusp of becoming a centre of excellence within the global digital innovation landscape. We are thrilled to be teaming up with OKEx, a leader in the digital currency sector, to leverage our expertise on the compliance and regulatory front to truly be a trailblazer within the security token sector.”
“Today, Malta opened up a way for legally binding listing and trading of tokenized securities. We are proud of Malta Stock Exchange to enter a partnership with a worldwide leader in primary offerings on blockchain such as OKEx. I look forward to the fruitful collaboration in the future.” said Silvio Schembri, Member of Parliament and the Junior Minister within the Office of the Prime Minister for Financial Services, Digital Economy and Innovation.
Early this month, OKEx announced that is accelerating its expansion into Malta by establishing an office and hiring local staff, a move it expects to complete by the end of the third quarter.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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