Binance and Malta Stock Exchange sign MoU, set to launch Token Trading
Following its exodus from China and its arrival into the Mediterranean country of Malta, the world’s biggest cryptocurrency exchange, Binance, has signed a Memorandum of Understanding (MoU) with the Malta Stock Exchange and is set to launch a brand new digital exchange for token trading.
Joe Portelli, the Chairman of the Malta Stock Exchange signed this agreement, with his counterpart, the Chief Financial Officer of Binance, Wei Zhou.
The Maltese Stock Exchange has operated for a period of 26 years as a regulated stock exchange, and now it will add a new dimension to its operations while partnering up with Binance’s business model and their digital reach.
The partnership between the two financial entities is no doubt a historic one, with the Archbishop of Malta, Charles Scicluna, referring to the technology as revolutionary and one that would change the world. “This is not an excuse to let it go by and be taken up by others,” said the minister, he further added that Malta had taken the “prudent route”.
MSX PLC, the Fintech and digital asset subsidiary of the Malta Stock Exchange was set up specifically for this purpose, said Scicluna.
The minister also drew attention to the need for transparency and effective measures to tackle money laundering and said that the Maltese approach would be to accompany this technology with adequate regulations.
“Whether you like it or not, the technology is here to stay,” said Joe Portelli, emphasizing the technology-friendly stance taken by the government. He further added, “We look forward to seeing this exciting new market opportunity develop admonish the boundaries of the Maltese financial sector.”
The tokens that are to be introduced as part of this partnership will be a universal trend the world over, according to Portelli.
Wei Zhou was delighted with the welcome given to his company and with the existing regulations that were in place, he hailed this relationship with the Maltese government and the Malta Stock exchange as a “revolutionary project.”
Image via Malta Today
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