Malta Stock Exchange Inks Deals to Build Security Token Exchanges

NEWS
Daniel Palmer
Jul 19, 2018 at 18:00 UTC

MSX, the newly launched fintech arm of the Malta Stock Exchange, has inked several new deals aimed at creating new marketplaces for tokenized securities.

The newly inked deal sees MSX team up with Neufund, a platform for securities tokenization and issuance, to build a "regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets," according to a press release.

Exactly what will make the new exchange decentralized was not explained, however.

The partners are already planning a pilot later this year, which will include a public offering of tokenized equity on Neufund's primary market that will later be available for trading on Binance (by way of a separate agreement with Neufund) – pending a green light from regulators in Malta, that is.

Neufund claimed the new platform will be "the first end-to-end primary issuance platform for security tokens."

Calling the project a "pioneer in digital finance," Joseph Portelli, chairman of the Malta Stock Exchange, said:

"We are delighted to welcome Neufund as our key partner in building a blockchain-based exchange that is fully integrated with established financial markets."

In related news, crypto exchange OKEx has also partnered with MSX to launch a new exchange – called OKMSX – for the trading of "institutional grade" security tokens.

The platform is expected to launch by Q1 of next year, according to a different press release.

Malta has recently been moving to draw crypto and blockchain firms, in June passing three bills pertaining to cryptocurrencies, blockchain and distributed ledger technology (DLT). The news marked Malta as one of the first jurisdictions in the world to pass specific legislation around the tech.

Malta Stock Exchange image via Shutterstock

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Stock ExchangesMaltaBinanceOKEx