Commenting on the announcement, Malta’s finance minister, noted that the country committed its best legal minds to creating an appropriate regulatory framework for the crypto industry. MSX in particular had established a new entity, the MSX PLC, specifically to explore financial technology and digital assets.
According to the online publication, Binance is considered the world’s largest crypto exchange by volume. The crypto exchange has been working with Malta’s authorities for a while: in March 2018, the company announced plans to set up an office and fiat-to-cryptocurrency exchange in Malta, and in June 2018, it said it would support fintech startups and entrepreneurs together with the Malta Stock Exchange.
In July 2018, MSX teamed up with Neufund, a platform for securities tokenization, to build a regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets. At the same time, Binance acquired a 5 percent stake in the Founders Bank in Malta, aiming to build a decentralized bank with a system based on blockchain. The bank was planning to partner with Neufund to issue its own legally-binding equity tokens.
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