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.