OKEx & Malta Stock Exchange to Join Forces

OKMSX trading platform developerment took a year and it will be launched bt the end of 2019
21 October 2019   357

The OKEx cryptocurrency exchange and the Maltese stock exchange expect to receive permission from the Malta Financial Services Authority to launch a joint platform for the exchange of digital assets OKMSX before the end of the fourth quarter, CoinGape writes.

According to the publication, the development of OKMSX was carried out throughout the year and is now approaching the final stage. It is expected that a full launch of the trading platform will take place in the first quarter of 2020.

This joint venture marks our confidence in the Maltese government as well as our commitment to providing an efficient, secure, and transparent blockchain trading environment to clients worldwide. We are excited as it is finally happening in 2020.
 

Andy Cheung

Head of operations, OKEx

In its activities, OKMSX uses the central depository of the Malta Stock Exchange and the Ethereum blockchain, which will issue security tokens, as well as create hot and cold wallets for storing them.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   285

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.