OKEx and Malta Stock Exchange launches trading platform
OKMSX has achieved regulatory approval from the Malta Financial Services Authority (MFSA). The firm is a digital asset trading platform operated jointly by the Malta Stock exchange and OKEX. Most likely it will get regulatory approval from the Malta Financial Services Authority (MFSA) by the end of Q4.
“The 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 are excited as it is finally happening in 2020.” - stated Andy Cheung.
OKMSX will also utilize the MSE’s central securities depository (CSD). The OKMSX CSD will not allow individual account holders, only member broker nominee accounts. The Ethereum blockchain protocol will be used, and all security tokens will be held in hot and cold wallets. Initially, the settlement will be possible only in fiat currencies.
Note that OKEx serves a large number of institutional investors and intends to increase their number. In addition, OKEx has taken the initiative to create a new self-regulatory organization that will develop standards to ensure legal compliance in the industry. Obviously, such a decision on the exchange came after one of the OKEx divisions was forced to conduct mass delisting due to the pressure of the FATF.
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