Malta has been pushing towards being recognised as the “Blockchain Island” for quite some time, and the recent results mark their initiative as a success. Country’s crypto-safe-haven-like ordinances lured many blockchain-based businesses to the island, spearheaded by the cryptocurrency trading giant, Binance.
OKEx Also Recognises Malta as a Crypto-Island
The today’s announcement published on the OKEx’s official website came as the confirmation of the trend.
“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 statement reads.
The legal partnership was signed in the form of the Memorandum of Understanding (MoU), in Valletta, Malta on July 19, 2018, and both signing parties took the obligation for a Joint Venture to be established by Q3 2018.
The new exchange, named OKMSX, will blend OKEx’s digital asset operations and security expertise with the Malta Stock Exchange’s 26-year track record of being a regulated stock exchange with thorough experience in regulatory compliance.
In accordance with the recent trends, OKMSX will be developing the institutional grade security-tokens trading platform, which is scheduled to go live by Q1 2019.
“Malta is taking the helm of regulating the blockchain technology and cultivating a regulated cryptocurrency and ICO epicenter. This joint venture marks our confidence in the Maltese government as well as our commitment to keep providing an efficient, secure, and transparent blockchain trading environment to clients worldwide,” stated Tim Byun, Chief Risk Officer and Head of Government Relations of OKEx, before indicating his belief that OKMSX will be a milestone in the economic development of Malta.
The care of so-called Equity Token Offerings will be entrusted to German blockchain platform Neufund, which will closely collaborate with the dynamic duo.
“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,” Neufund CEO and co-founder, Zoe Adamovicz stated about the project.
OKEx is Hiring Locally and Supporting the Maltese Blockchain Industry
The previous OKEx’s announcement from July 2nd, which states that the company 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,” now got the logical continuation.
“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,” the official statement supportively concludes.