Binance Is Back In Malaysia!

Photo by Esmonde Yong on Unsplash

Photo by Esmonde Yong on Unsplash

Who in the crypto-verse hasn’t heard of Binance? They are a well-known cryptocurrency exchange–the largest exchange in the world in terms of daily trading volum. Binance has previously acquired many regional exchanges around the world such as WazirX in India, Tokocrypto in Indonesia and Sim;paul in Brazil. So, what was the next stop for Binance…?

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.”

After Binance was told to stop its operations in Malaysia (in July 2021) because it lacked the necessary license, a pot of gold has suddenly appeared for the entire Malaysian crypto community. This is because Changpeng Zhao has chosen The Land Below The Wind, aka Malaysia, to be blessed with the Binance booster!

MX Global is one of the four Recognized Market Operator-Digital Asset Exchanges (RMO-DAX) that has been granted full approval by the Securities Commission Malaysia (SC) in July 2021, and is in full compliance with official standards and practices enacted to uphold investor protection and conduct crypto trading safely and securely.

The Kuala Lumpur-based fintech company hopes to collaborate with Binance to enable technology transfer and enable a wider range of cryptocurrency for traders and investors to choose from.

The CEO of MX Global, Dato’ Fadzli Shah explained:

“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 effort to support sustainable growth in the cryptocurrency market in Southeast Asia, Binance hopes to work with more regional and local partners to drive further collaborations.

Historically speaking, when Binance decides to partner with an upcoming project or exchange, there is only one way to go – and that is up! Without speculating about any tokens or prices, it is clear that Binance is a force to be reckoned with when it comes to the cryptoverse. For MX Global to now be officially tied with Binance, the influence of the company is sure to spread quickly across Malaysia.

Disclaimer: I am not a financial advisor. Do not take anything posted as financial advice, ever. Always do your own research. Consult a professional investment advisor before making any investment decisions. My posts are for entertainment purposes only.

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