The Maltese government is step by step building a global market for cryptocurrencies, as it continues to assert itself as the blockchain island of the world, with crypto-friendly regulations. Thanks to that kind of accommodating legislation, some cryptocurrency companies such as Binance and OKEx have flocked to the country, to increase out their services.
The launch of MSX PLC
Helping to build these services further on, the MSE or Malta Stock Exchange has announced the launch of its MSX PLC, which is an investment vehicle which is going to partner with leading crypto exchanges, to build joint ventures in the range. For the flags his partnership of MSX PLC, MSE signed a Memorandum of Understanding (MoU) with digital asset exchange OKEx.
Joe Portelli, the chairman of the MSE, speaking with Bitcoin Magazine was full of optimism for the partnership with OKEx. He commented that they believe security tokenization is going to be the next significant wave in the digital asset arena and expect some other stock exchanges to follow their lead.
OKEx will partner with MSX
OKEx, who moved to Malta recently, is going to partner with the MSX to create institutional grade security-tokens trading platform, which is called OKMSX. However, the company expects to finalize the Joint Venture by the third quarter of 2018, while the platform will not be launched until the first quarter of 2019.
The partnership is going to leverage off the expertise of OKEx for running a digital exchange and the experience in regulatory compliance and client due diligence.
Tim Byun, the chief risk officer and head of Government Relations of OKEx, commenting on the partnership said that he believes OKMSX is going to be a milestone for the economic development of Malta.
Joining hands with Fifth Force
MSX joined hands with German-based Fifth Force, the operator of Neufund, a platform which permits companies to tokenize equities and sell them via Equity Token Offerings (ETOs).
In one Medium post, Neufund says that the partnership aims to build a regulated and decentralized, global stock exchange for listing, as well as trading tokenized securities alongside the crypto-assets.
The CEO and co-founder at Neufund, Zoe Adamovicz, revealed in the press release that he was anticipating the pilot, which is going to help test the reaction of the market and realize overall project idea.
Malta also committed to creating a favorable environment for the blockchain industry. Just last week, Malta-based STASIS launched a stable coin backed by the Euro. The friendly laws of the country have also convinced crypto heavyweights to set up shop on the island.