Malta Digital Exchange (MDX) and Malta Stock Exchange (MSE) offices will now be located under the same building as MDX prepares to open a cryptocurrency exchange section.
As reported by the Times of Malta:
The relocation of its offices [Malta Digital Exchange] to the Malta Stock Exchange demonstrates MDX’s commitment to building the world’s premier security token and virtual asset exchanges at the financial epicenter of one of the world’s most forward-thinking blockchain jurisdictions.
Malta Digital Exchange first indicated it will open its doors back in September 2018. The following month, October 2018, MDX appointed a CEO, Johan Lemche, and head of financial technology at Saxo Bank, Chris Truce, to the board.
To facilitate trading, Malta Digital Exchange will employ Parichain technology developed by Paritech, a financial technology firm with a global footprint.
MDX moving in with MSE comes at the backdrop of concerns from the International Monetary Fund (IMF) in regards to the Maltese financial watchdog’s regulations on terrorism financing and prevention of money laundering. According to the IMF, the Malta Financial Services Authority needs to tighten its regulatory control and create better systems to curb money laundering and terrorism financing.
Additionally, reports have emerged indicating that digital currency and blockchain-affiliated firms in Malta are being denied banking services by the country’s financial institutions.
The founder of Malta Digital Exchange, Rick Klink said that:
Malta is at the forefront of regulatory framework for blockchain regulation and the perfect launch for MDX’s institutional-grade platform. Our move to the Maltese Stock Exchange means that we are now physically positioned to be at the heart of the next wave of institutional financial innovation.
Do you think Malta Digital Exchange being under the same roof with MSE will boost its credibility in attracting institutional cryptocurrency investors?
Let us know your thoughts in the comments section below.