Binance and Malta Stock Exchange are Set to Launch a New Crypto Project
The world’s leading cryptocurrency exchange by traded volume- Binance is excited to announce it has teamed up with the Malta Stock Exchange to work at the release of a new digital asset trading platform.
Binance is already known as one of the Maltese core companies. Recently, the cryptocurrency-based company announced its collaboration with the Malta Stock Exchange in order to set up a trading platform.
The partnership was signed on 11 September on the basis of a Memorandum of Understanding (MOU) between MSE Chairman Joseph Portelli and Binance CFO Wei Zhou.
The planned exchange is set to make several changes to the outdated operating system of the stock exchange. It will be designed on the Binance’s financial model and respect the regulations in force.
Malta attracts crypto projects
Malta seems to attract innovative projects as this is not the only announcement of this type. Recently, the investment startup Neufund and the Polish crypto trading platform Bitbay also revealed information about a kind of partnership with the Malta Stock Exchange.
Speaking at a press conference right after signing the MOU, Professor Edward Scicluna, Malta’s Minister for Finance, said he believes the technology will change the future as it generates revolutionary inventions. He also pointed out that Malta will do its best not to lose any opportunity to integrate the advanced tech and its features.
Of course, Scicluna did not omit to talk about the risks the crypto and blockchain markets involves:
“This is not an excuse to let it go by and be taken up by others,” the minister claimed, adding that Malta was following the “prudent route”.
To manage such ventures, Scicluna affirmed that fintech organization MSX PLC- a subsidiary of the Malta Stock Exchange, was founded mainly for this reason.
The Minister for Finance thinks there is a need for transparency to fight against money laundering and blockchain technology is the one to figure it out.
You may be interested
Central Bank of the Bahamas (CBOB) has Released Proposal for Crypto-Asset RegulationJoshua Tayo - November 12, 2018
With the Central Bank of the Bahamas (CBOB) bent on regulating the crypto industry at all cost, the bank has…
Hodly Review: Is It Safe to Buy Cryptocurrency With?Anca Faget - November 12, 2018
What Is Hodly? Hodly is a new trading platform which enables individuals to trade cryptocurrencies, which also features a mobile…
DMG’s Crypto Mining Facility in Canada is Now OperationalSolomon Magawi - November 12, 2018
Some miners are relocating to places where the availability of hydroelectric power and cooler climates offer rock-bottom electricity prices. Others…