Cryptocurrency Platform Moves To MSE Office In Malta
Malta Digital Exchange (MDX) has moved its operations to the premises of the Malta Stock Exchange (MSE), which will soon launch its own unit focused on the cryptocurrency economy. This was reported by Times of Malta.
Currently, MDX is in the process of obtaining a license that will allow conducting international trade in the secondary market of digital assets. As Rick Klink, the founder and head of the exchange, said, moving to the MSE's office means that the company is physically closer to the epicenter, which will give birth to the next generation of financial innovations.
It is expected that MDX will facilitate the development of a premium-class security token and help the Malta Stock Exchange to establish trade with crypto assets. The report says that MDX will use the Parichain technology by Paritech, designed to work with large B2B clients.
In early March, the International Monetary Fund (IMF) discovered large gaps in the anti-money laundering policy, which is led by the Maltese regulators. Therefore, the IMF advised the authorities of the so-called blockchain island to involve more resources and monitor the activities of crypto-business in the country.
Also earlier this month, several fintech companies in Malta reported that local banks refused to open accounts for them. According to entrepreneurs, banks do not see the difference between the supposedly dangerous cryptocurrencies and blockchain.
In mid-2019, a special bank led by the firm RnF will be opened in Malta to service the companies related to the crypto industry. It will also work with well-off citizens who do not want to use the services of regular banks.
Previously, Bloomberg discovered that traditional banks massively refuse to service crypto companies.