Binance, MSX and Neufund to Develop The World’s First Decentralized Stock Exchange
Binance has partnered with Neufund and MSX. MSX is the recently launched subsidiary of the Malta Stock Exchange. The Joint Venture is to build the first decentralized stock exchange of world.
The move of the three platforms marks the latest foray of Malta into what may be the world’s most progressive cryptocurrency regulation. They are to launch a pilot project in 2018, pending regulatory approval. The trio aims to create the first “regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets”. The exact roles are not yet disclosed but there are reports that Binance might build the architecture for the platform.
As per the reports, Binance founder and CEO, Changpeng ‘CZ’ Zhao, said :
“We are glad to partner with Neufund over the pioneering idea to create a complete ecosystem for issuing and trading securities on Blockchain. Today’s announcement marks a new chapter for Binance’s development, with the goal to tokenize traditional financial assets.”
The Neufund team said in an announcement via its blog that the new exchange will break ground:
“We are thrilled to announce the partnerships with Malta Stock Exchange and Binance, that will ensure high liquidity to equity tokens issued on Neufund. It is the first time in history, that security tokens can be offered and traded in a legally binding way.”
Neufund has set the self-goal of becoming the ‘first end-to-end primary issuance platform for security tokens’. It aims to offer secondary trading of equity tokens. The plan might enable firms around the world to raise funds through blockchain technology.
As per the release, seven companies have thus far decided to conduct an Equity Token Offering with Neufund, including Uniti, Founders Bank, Next Big Thing, Brille24, MySwooop, Blockstate and Emflux Motors.
Binance had also announced a new pivot that will see the launch of a decentralized cryptocurrency exchange dubbed Binance Chain.
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