MX Exchange has been granted full approval by the Securities Commission Malaysia (SC) to operate as Recognised Market Operator-Digital Asset Exchange (RMO-DAX) for the trading of cryptocurrencies in Malaysia, making it the fourth DAX permitted to operate in Malaysia.
The trading platform has gone live and is available on desktop and soon as a mobile application. Currently, MX Exchange supports Bitcoin and Ethereum trading pairs with the Malaysian Ringgit.
The trading platform has also appointed Dato’ Fadzli Shah, Malaysia Digital Economy Corporation’s (MDEC) former Chief Strategy Officer, as its Chief Executive Officer.
He has extensive experience in the digital and startup worlds, both locally and abroad.
Founded in 2018, MX Exchange is a 100% Malaysian owned DAX which aims to add new enhanced features to its trading platform soon.
Dato’ Fadzli Shah, CEO of MX Exchange said,
“We look forward to working closely with the SC, the crypto community and local partnerships to build an amazing investor experience and expand Malaysia’s thriving local capital markets. There has been a marked increase in public interest of cryptocurrencies as an alternative investment, and for many, their first ever investment. We see the DAX as a key piece to enable this new generation of financial services balancing investor security and protection, toward shared prosperity.”
