The world’s first crypto trading market in terms of volumes, OKEx, has joined forces with MSX, the FinTech branch of the Malta Stock Exchange, to launch a new security token, which aims to become the leader in the sector on the blockchain island.
The partnership, reports OKEx in a press release on its website, was formalized today with the signing of a Memorandum of Understanding (MoU) in Valletta, capital of Malta.
Both companies are committed to finalising a joint venture which will be launched soon, by the third quarter of this year.
The newly established token trading platform will be called OKMSX and will leverage OKEx’s experience in the digital asset market and the 26-year experience of the Malta Stock Exchange as a regulated market.
“Milestone in Malta’s economic development”
The ultimate goal of OKMSX. which according to OKEx representatives will become a “milestone in Malta’s economic development“, is to offer its global customers a quality token platform by the first quarter of next year.
Tim Byun, Chief Risk Officer and Head of Government Relations of OKEx, spoke on the historic agreement: “Malta is taking the lead in the process of regulating blockchain technology, becoming the epicentre of ICOs and cryptocurrencies governed by a legal framework.“
“This joint venture demonstrates our confidence in the Maltese government and our commitment to providing customers around the world with an efficient, safe and transparent blockchain trading system.”
According to Joseph Portelli, Chairman of the Malta Stock Exchange, the European Union member country “is about to become a centre of excellence within the global digital innovation landscape. We are excited to work with OKEx, a leader in digital currencies, to leverage our experience in legal compliance and market regulation to lead the way in the security token industry.“