Binance and OKEx Get Closer to Malta
First, Neufund, a platform for companies to create and sell equity tokens, has announced their partnership with Binance, and MSX, an innovation vehicle of the Malta Stock Exchange. Three entities have teamed up to create the world’s first regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto assets.
Neufund hopes that this partnership might help the company to become the first end-to-end primary issuance platform for security tokens, in particular equity tokens. The platform will allow secondary trading of equity tokens and bring liquidity into the space for companies around the world. According to the announcement, seven companies have already leveraged the platform for token creation. The tokens thus created will then be tradeable on Binance.
As a partner in this project, Binance will work on creating an exchange ready for security tokens, including equity tokens. According to Chanpeng Zhao, CEO of Binance, it “marks a new chapter for Binance’s development, with the goal to tokenize traditional financial assets.”
Zoe Adamovicz, CEO and co-founder at Neufund, said in the official release, “The upcoming pilot project will allow us to test the market’s reaction and realize the overall project idea in an environment with minimized risk.” The pilot is scheduled for later this year.
Another announcement came from OKEx. It has announced that it signed a memorandum of understanding with MSX, in order to launch new platform for security tokens. A new joint venture is expected to be established this quarter.
Named OKMSX, the new exchange is set to develop into an institutional grade security tokens trading platform. According to the announcement, it will launch by Q1 2019 to serve clients globally from Malta.
OKEx announced about their expansion to Malta in April.
Meanwhile, Binance has recently moved to Malta, and a decentralized stock exchange is only part of their joined efforts to make the island nation a leading crypto hub. As reported in July, the company is actively investing in becoming the decentralized exchange while a prototype is estimated within a couple of months. Recently, the exchange also announced that they plan to lay the groundwork for a new bank whose owners will be crypto investors, called Founders Bank.