Malta has long been known as the favorite destination of iGaming companies around the world. Now it seems the island is shifting from online gambling to the novel blockchain technology.
Malta is Ready To Welcome Blockchain Technology and All Its Friends
The country made history when it became the first in the world to offer “legal certainty” to the blockchain industry. On July 4, Malta passed three bills the Innovative Technological Arrangement and Services Act, the Malta Digital Innovation Authority Act, and the Virtual Financial Asset Act.
#Malta ?? officially the first country worldwide to have holistic legislative framework regulating #blockchain & #DLT technologies. We will be the #global hub for market leaders in this new sector. Now for the implementation of #BlockchainIsland -JM @SilvioSchembri
— Joseph Muscat (@JosephMuscat_JM) July 4, 2018
Earlier this year, back in March, the world’s largest cryptocurrency exchange, Binance, decided to relocate to Malta. Once again, the island’s Prime Minister cheerfully welcomed the move, saying,
“We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world-class fintech companies.”
Malta Makes History Again, Starting a Partnership With OKex and Fifth Force
Now the Malta Stock Exchange has announced a subsidiary called MSX. The purpose was to sign two Memoranda of Understanding with OKEx and Fifth Force. OKEx is one of the largest cryptocurrency exchanges in the world, and German Fifth Force is the name behind Neufund, a blockchain-based equity fundraising platform.
The joint venture between MSX and OKEx will bring the life a new entity, OKMSX, which will operate an institutional grade exchange platform for security tokens. With Fifth Force, MSX opens to build the first regulated global stock exchange in the world operating on a blockchain.
Joe Portelli, Malta Stock Exchange’s chairman, said, “Malta is on the cusp of becoming a center of excellence within the global digital innovation landscape. These partnerships leverage our expertise on the compliance and regulatory front to truly be a trailblazer within the security token sector.”
Fifth Force’s own statement added the partnership included Binance. Together with MSX, the trio plans on releasing a pilot program later this year which would tokenize equity to be later traded on Binance. Reportedly, the pilot would include an initial public offering (IPO) of these tokens.
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