Crypto at a glance;
OKEx Partners With Malta Bourse to Launch New Digital Asset Exchange
- Hong Kong-based cryptocurrency exchange OKEx is partnering Malta Stock Exchange to launch a new institutional grade security-tokens trading platform in support of Malta's "Blockchain Island"
- initiative. A Memorandum of Understanding (MoU) for the new platform was signed in Valletta, Malta
Crypto at a glance OKEx, the world's largest digital asset exchange by trading volume, has teamed up with MSX, the Digital and Fintech arm of Malta Stock Exchange Holdings to launch a new exchange in support of Malta's “Blockchain Island” initiative. The partnership was formalized in the form of a Memorandum of Understanding (MoU) signed in Valletta, Malta on July 19, 2018. Both parties will endeavour to finalize a Joint Venture to be established by Q3 2018.
The new exchange will operate under the name OKMSX and will leverage 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 with extensive experience in regulatory compliance and client due diligence. OKMSX will be well positioned to develop an institutional grade security-tokens trading platform. This new platform will launch by Q1 2019 and service clients globally from Malta.
"Malta is taking the helm of regulating the blockchain technology and cultivating a regulated cryptocurrency and ICO epicentre. This joint venture marks our confidence in the Maltese government as well as our commitment to providing an efficient, secure, and transparent blockchain trading environment to clients worldwide. We believe OKMSX will be a milestone in the economic development of Malta," said Tim Byun, Chief Risk Officer and Head of Government Relations of OKEx.
Joseph Portelli, Chairman of the Malta Stock Exchange, said, “Malta is on the cusp of becoming a centre of excellence within the global digital innovation landscape. We are thrilled to be teaming up with OKEx, a leader in the digital currency sector, to leverage our expertise on the compliance and regulatory front to truly be a trailblazer within the security token sector.”
“Today Malta opened up a way for legally binding listing and trading of tokenized securities. We are proud of Malta Stock Exchange to enter a partnership with a worldwide leader in primary offerings on blockchain such as OKEx. I look forward to the fruitful collaboration in the future.” said the Honourable Silvio Schembri, Member of Parliament and the Junior Minister within the Office of the Prime Minister for Financial Services, Digital Economy and Innovation.
As previously announced on July 2, 2018, OKEx is accelerating its global expansion into Malta by establishing an office and hiring local staff and expects to complete the move by the end of the third quarter. In addition, OKEx is proud to be a part of the Malta blockchain community and is looking forward to being a key sponsor of the DELTA Summit, Malta's official blockchain and digital innovation event.