Image: Bitcoin, Pixabay
The Malta Stock Exchange is going after the thriving security token sector with new partnerships unveiled on Thursday to develop and launch blockchain-powered trading platforms for security tokens, according to a news release.
Image: Malta Stock Exchange building, by TheLiftCreativeServices, Shutterstock.com
Through a newly launched subsidiary called MSX, the Malta Stock Exchange has signed two Memoranda of Understanding (MoUs) with OKEx, one of the world’s largest cryptocurrency exchange platforms, and Fifth Force, the operator of German blockchain-based equity fundraising platform Neufund.
The collaboration with OKEx will focus on developing an institutional grade security tokens trading platform, which will operate under the name OKMSX.
Tim Byun, chief risk officer and head of government relations of OKEx, told CoinJournal:
“We see the initial uses cases for security tokens to include asset backed security tokens such as real estate backed tokens, mortgage backed tokens, and/or other fixed income tokens, equity tokens that represent equity shares of a company, and security tokens that are native to a specific service provider which provides certain benefits, such as unique products, services, or a return element.
“We hope that the issuers of security tokens will reside in and come from ‘Blockchain Island’ and the broader European Union (EU).”
Continuing on the momentum of the MoU signing, Byun said OKEx and MSX will now formalize an agreement for the OKMSX platform, a joint venture and new entity. “We hope to be first operational security token exchange in the EU with a roll-out target by end of the year,” he added.
Meanwhile, the partnership with Fifth Force will aim at building “the world’s first regulated decentralized global stock exchange” for listing and trading tokenized securities alongside crypto-assets, according to Zoe Adamovicz, CEO and co-founder of Fifth Force.
