OKEx, one of the world’s largest cryptocurrency exchanges, has announced a venture in partnership with the Malta Stock Exchange to launch a new platform for listing and trading security tokens.
Part of Malta’s ongoing “Blockchain Island” initiative, the partnership was formalised today with a joint Memorandum of Understanding between OKEx and MSX, the Digital and Fintech wing of Malta Stock Exchange Holdings - with a view to finalising the joint venture towards the autumn.
The new exchange – to be called “OKMSX” has a goal of launching in Q1 2019 - and will serve clients globally from Malta.
Joseph Portelli, Chairman of the Malta Stock Exchange, explained how the move will help Malta achieve its blockchain vision:
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.
Big Dreams for a Small Island
Malta has been working hard recently to establish itself as a leader in the blockchain space and attract foreign investment.
Earlier in the month, the Maltese parliament unanimously passed three bills to regulate Distributed Ledger Technology (DLT) - making Malta the first country to “provide legal certainty to this space.”
Last week too saw Malta announce a Binance-backed project to set up the world's first "decentralized, community-owned, and blockchain friendly" bank on the island, while another world-first was announced in the form a new ICCO (Initial Convertible Coin Offering) - allowing for the first time for tokens to be traded at a later date for shares in a company.