Malta is yet again the center of attention having achieved yet another milestone in drawing in cryptocurrency investments. Cryptocurrency exchange OKEx setting sights on the island nation is a development that affirms the country?s growing credentials as a virtual currency and blockchain hub.
The cryptocurrency exchange has since signed a memorandum of understanding with the Malta Stock Exchange as part of a push to enhance cryptocurrency services in the country. Under the terms of the agreement, the stock exchange is to offer experience as well as knowledge for the launch of a new digital token exchange.
OKEx on its part is to offer the entire infrastructure as well as security needed for the launch of the digital token exchange. The exchange is to operate under the name OKMSX and should lead to the development of institutional grade security-tokens. It should be up and running in the first quarter of next year.
?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 believe OKMSX will be a milestone in the economic development of Malta,” said Tim Byun, Chief Risk Officer and Head of Government Relations of OKEx.
Malta Cryptocurrency Blockchain Push
The two have also launched MSX PLC an investment company tasked with the responsibility of propelling partnerships with cryptocurrency exchanges worldwide. The agreed joint venture is to be completed in the third quarter.
The latest deal underscores how Malta is slowly becoming a center of excellence when it comes to blockchain and cryptocurrencies innovations. A lack of stringent crypto regulations, as in other parts of the world, has worked to the company?s advantage in drawing in significant investment from crypto enterprises.
OKEx is one of the companies that has set its sights on the island nation as part of its global expansion drive. The company has already established an office and is currently employing local staff as it seeks to host most of its operations in the country before the end of the third quarter.