Binance Takes Strategic Stake in Malaysian Crypto Exchange MX Global
by Fintech News Malaysia March 1, 2022MX Global today announced an equity investment into the company from Binance, one of the world’s largest crypto exchanges.
In addition, MX Global also landed another investment for Redeemable Convertible Preference Shares (RCPS) into the company by Cuscapi Berhad, a pioneer digital business solutions provider in Malaysia.
They said that these new capital injections will allow MX Global to build brand awareness, hire more high-quality talent and develop new features within Malaysia’s regulatory framework.
MX Global is one of the four Recognized Market Operator-Digital Asset Exchange (RMO-DAX) that has been granted full approval by the Securities Commission Malaysia (SC) in July 2021.
Dato’ Fadzli Shah
CEO of MX Global, Dato’ Fadzli Shah said
“MX Global aspires to be the preferred liquidity platform for digital asset or cryptocurrency investors and token issuers locally and internationally. The cooperation of Binance will not only support us in achieving this goal but should also provide the most capital-efficient opportunity for us to align and compete with other global players in the industry. We will continue building a safe, easy and real digital asset ecosystem for our customers.”
With this initial effort to support sustainable growth in the cryptocurrency market in Southeast Asia, Binance hopes to work with regional and local partners to drive further collaborations.
Changpeng Zhao
Changpeng Zhao (CZ), Founder and CEO of Binance, said:
“We see potential in Malaysia given its respected and innovative crypto and blockchain community. We believe that partnering with MX Global will be a springboard to new opportunities, both in Malaysia and the region as a whole as well as across the entire crypto and blockchain ecosystem.”
