Binance, the largest cryptocurrency exchanges by volume, and the Malta Stock Exchange are collaborating to release a new digital exchange for trading of Security Token.
This new platform enables investors to trade and exchange security tokens.
The consensus was set up between the Chairman of Malta Stock Exchange, Joe Portelli and Cheif Financial Officer of Binance, Wei Zhou.
The Portelli stated that government is a pioneer in the blockchain space, adding that “whether you like it or not, the technology is here to stay.” He further added to that exchanges for security tokens are bound to set a global standard in a few years.
The MOU(Memorandum Of Understanding) between the two parties aligns with Binance’s move to Malta earlier this year.
Binance CFO Wei Zhou said the organization is eager to construct a blockchain ecosystem in Malta. “This association will enable Binance and MSE to have traditional financial assets on blockchain technology through security tokens. We anticipate conveying more developments to Malta and further building up our presence here,” he said.
@MaltaStockExch pleased to announce an MOU signed, with crypto giant @binance, to set up a security token Exchange.We are becoming a leading crypto centre of excellence. @JosephMuscat_JM @edward_scicluna @SilvioSchembri @cz_binance pic.twitter.com/F3T86y7g44
— Malta Stock Exchange (@MaltaStockExch) September 11, 2018
Malta Today reports that the nation’s finance minister Edward Scicluna, who attended the signing of the MOU, said that “blockchain technology was progressive and clearly going to change the world.”
Polish digital money trade BitBay, which moved to Malta in July, declared a concurrence with the Malta Stock Exchange and Neufund a month ago to make Malta’s first crypto-to-fiat exchange.
Malta has turned into a noteworthy blockchain hub for fintech business visionaries and developers as a result of the regulatory framework is established. Blockchain organizations and activities keep on flocking to the Mediterranean “Blockchain Island” which is building a great ecosystem for distributed ledger technologies. As indicated by research by Morgan Stanley, most digital currency trading is moving to a legal base in Malta, which ranks first in the world for crypto trading volume, followed by Belize, Seychelles and the US.
Binance currently beats cryptocurrency trading volumes, as indicated by information by CoinMarketCap, moving almost $1 billion worth of trading in past 24 hours. The trade, which was established in July 2017, expects a net profit of $500 million to $1 billion in 2018, as indicated by its CEO.
The Binance blockchain ecosystem is likewise contained startup incubator Binance Labs and Launchpad for blockchain projections, alongside with informational initiatives. The organization recently Binance Academy to teach enthusiasts about blockchain and cryptocurrencies.