Binance Enters The Security Token Sector – The Exchange Opens A Security Trading Platform In Malta
Security token enthusiasts have a lot to celebrate these days after the latest news.
Binance wants to establish a security token exchange
Local news agencies have reported that Binance is currently looking to establish a security token exchange and decentralized bank.
It’s already a known fact that Malta is one of the best locations in the world for blockchain start-ups, so this move makes huge sense.
The great news of this partnership first came out via press conference following the signing of a memorandum of understanding.
Malta Today was the one that reported that while discussing the agreement, Malta’s Finance Minister Edward Scicluna called the blockchain technology revolutionary.
He also said that Malta would be crazy not to continue to support cryptos.
Back in July Malta made headlines when the Maltese Parliament passed a law that set a regulatory framework in place for cryptos.
Scicluna admitted that the blockchain technology is just perfect for Malta’s smaller economy.
The favorable legislation there allowed the blockchain investments to surge in the country.
Binance’s new platform must meet specific requirements
These include KYC and AML regulations. The security token exchange’s new platform will include a lot of features from the existing Binance platform.
Binance is currently one of the most successful crypto exchanges of all time. It’s the largest in the world in terms of trading volume.
Binance developers have been able to avoid instituting KYC protocols into their platform until now.
At the moment, anyone can register for an account and withdraw up to two BTC daily.
Binance’s ease of use and the wide variety of cryptos that are present on the platform have helped Binance gain more and more dominance in the market.
A lot of voices in the cryptosphere have been wondering what Binance’s move might be and it seems that the exchange is ready to step also in the security token sector these days.
The original, platform still remain out of this sector.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.