On the 13th of September, Binance, the biggest crypto exchange company, signed a memorandum of understanding with The Malta Stock Exchange (MSE) launching a new digital exchange for security token trading. This agreement was signed by Joe Portelli, Malta Stock Exchange Chairman, and Wei Zhou, Binance Chief Financial Officer.
The Malta Stock Exchange expressed its hopes that through this trading platform, it would continue to maintain the company’s reputation of operating as a regulated stock exchange backed up with its experience in regulatory compliance and client due diligence. Moreover, the stock exchange is to follow Binance business model to help the platform earn a global reach.
Wei Zhou, Binance CFO stated that the company is excited about building a blockchain ecosystem in Malta. He stated that “This partnership will allow Binance and MSE to host traditional financial assets on blockchain technology through security tokens. We look forward to bringing more innovations to Malta and further establishing our presence here.”
However, during the press conference, Malta Stock Exchange Chairman, Joseph Portelli announced that the two parties had not signed any formal agreement yet, but “agreed on intent” to work together in the future.
Mr Joe Portelli continued by saying that “[the Malta Stock Exchange] looks forward to seeing this exciting new market opportunity to develop the Maltese financial sector.”
Professor Edward Scicluna, Malta Finance Minister, expressed his positive thoughts about the DLT technology to the media. He called it very revolutionary and said out his opinion about its ability to change the world. He is sure that Malta has a good opportunity at hand to establish itself in this industry.
The minister encouraged this partnership, hoping that Malta remains a trailblazer and a leader in the digital economy sector. Moreover, Prof. Scicluna believes that Malta will repeat its success with the gaming sector, established the Malta Gaming Authority, again – this time with Blockchain.