{"id":1757,"date":"2018-09-12T06:46:25","date_gmt":"2018-09-12T06:46:25","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/malta-stock-exchange-signs-mou-with-binance-to-launch-security-tokens-trading-platform"},"modified":"2018-09-12T07:02:48","modified_gmt":"2018-09-12T07:02:48","slug":"malta-stock-exchange-signs-mou-with-binance-to-launch-security-tokens-trading-platform","status":"publish","type":"post","link":"https:\/\/news.icohotlist.com\/news\/malta-stock-exchange-signs-mou-with-binance-to-launch-security-tokens-trading-platform\/","title":{"rendered":"Malta Stock Exchange Signs MOU with Binance to Launch Security Tokens Trading Platform"},"content":{"rendered":"
The Malta Stock Exchange\u2019s fintech and digital asset subsidiary, MSX PLC, has signed a Memorandum of Understanding (MOU) with crypto exchange Binance<\/a> to jointly launch a new security token digital exchange, according to a press release shared with Cointelegraph September 11.<\/p>\n The press release pitches the forthcoming trading platform as being poised to benefit from the Malta Stock Exchange\u2019s \u201c26-year track record of operating as a regulated stock exchange,\u201d with the dynamism and international scope of Binance\u2019s business model.<\/p>\n As previously reported, Binance has steadily been expanding its business presence in Malta, a country whose pro-crypto<\/a> regulatory stance has earned it the moniker of \u201cBlockchain Island<\/a>.\u201d Binance CEO Changpeng Zhao, also known as CZ, is quoted as saying:<\/p>\n \u201cMalta […] has become a global hub<\/a> for blockchain technology through active and transparent crypto regulations. This partnership will allow Binance and MSX to host traditional financial assets on blockchain technology through security tokens.\u201d<\/p><\/blockquote>\n The chairman of the Malta Stock Exchange, Joe Portelli, has for his part said the initiative represents a \u201cnew market opportunity [to] develop and push the boundaries of the Maltese financial sector.\u201d<\/p>\n As Cointelegraph has reported, Binance first announced<\/a> the opening of its office in Malta at the end of March after receiving a warning letter from Japanese<\/a> financial authorities about its unregistered status.<\/p>\n Earlier this summer, CZ told Cointelegraph in an exclusive interview that the exchange had opened a bank account<\/a> on the island, paving the way for the introduction of fiat-crypto pairs. Company representatives subsequently hinted<\/a> at the exchange\u2019s plans to open a Malta-based platform to this end.<\/p>\n Binance is currently the world\u2019s largest cryptocurrency exchange by 24-hour adjusted trading volume<\/a>, seeing almost $822 million in trades on the day to press time. In July, CZ told<\/a> Bloomberg he “expects” the exchange \u2014 which has also recently extended<\/a> its international operations to Uganda \u2014 to reach $1 billion in profits in 2018.<\/p>\n<\/div>\n