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A subsidiary of the Malta Stock Exchange, MSX PLC, revealed that it recently signed a Memorandum of Understanding (MoU) with the crypto exchange Binance to develop and launch a new exchange for token trading.

This development will add to and strengthen MSX’s 26 years of trading experience in Malta, as well as allow Binance to expand its business further internationally.

According to Binance founder Changpeng Zhao,

“Malta […] has become a global hub for blockchain technology through active and transparent crypto regulations. This partnership will allow Binance and MSX to host traditional financial assets on blockchain technology through security tokens.”

Head of MSX, Joe Portelli, said that this association will open the doors in the country to expand and “push the limits of the financial sector,” which is already considered by many in the Fintech industry as a paradise for development.

Binance started operating in Malta last March, after receiving regulatory pressure in Japan, where they originally founded.

Malta’s financial sector has not been the only industry active with this tech in recent months, government authorities have also been quite present throughout the process of adopting the decentralized technology.

In early July, Malta’s Parliament passed three bills setting out the country’s first attempt to establish a regulatory framework for the blockchain industry.