The Maltese Stock Exchange (MSE) has partnered with cryptocurrency exchange OKEx to develop a new security-tokens exchange, announced the MSE.
The collaboration was completed by signing a Memorandum of Understanding (MoU). In this way, the Chinese trading platform OKEx has committed to creating a regulated exchange in Malta. As reported on 19 July, the project will actually be deployed by three organization: the Maltese Stock Exchange, OKEx, and German blockchain-based Neufund.
The upcoming joint exchange, named OKMSX, will combine “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,” reported a press release. According to it, the German company will take care of developing the alleged Equity Token Offerings.
“Malta is on the cusp of becoming a centre of excellence within the global digital innovation landscape,” MSX Chairman Joe Portelli explained, adding that:
“…These partnerships leverage our expertise on the compliance and regulatory front to truly be a trailblazer within the security token sector.”
Malta- The Blockchain Island
The project is the latest move on the country’s way to becoming a “Crypto Nation” and deplores international competition. As previously reported by Coindoo, three new blockchain-based laws entered into force earlier this month, giving Malta the title of the “Blockchain Island“.
Malta is widespread as a crypto-friendly destination. The world’s largest cryptocurrency exchange by 24-hour traded volume Binance, which moved to Malta in April, revealed its plans to develop in collaboration with German company Neufund the first decentralized “global community-owned bank” in the world.
Regarding the MSX partnership, Neufund CEO and Co-founder Zoe Adamovicz explained that: “The aim of our collaboration is to build the world’s first regulated decentralized global stock exchange, which will provide much-needed liquidity to business entities around the world”.
“I look forward to our pilot project, which will help us to test the market’s reaction and realize overall project idea in an environment with minimized risk,” he added.