MX Exchange gets nod for cryptocurrency trading

MX Exchange announced that it has been granted full approval for the trading of cryptocurrencies in Malaysia.

The Securities Commission Malaysia has given them approval to operate as Recognised Market Operator-Digital Asset Exchange (RMO-DAX).

MX Global Sdn Bhd which owns and operates MX Exchange has also appointed Dato’ Fadzli Shah as its chief executive officer.

The ex-chief strategy officer of MDEC will bring with him a vast wealth of experience in the digital and startup worlds to add significant value for MX Exchange’s mission.

“We are deeply grateful for the confidence entrusted upon us by the Securities Commission Malaysia. 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,” said Fadzli.

“There has been a marked increase in public interest of cryptocurrencies as an alternative investment, and for many, their first ever investment. This is a golden opportunity to engage new investors and realise fintech innovations. We see the DAX as a key piece to enable this new generation of financial services balancing investor security and protection, toward shared prosperity,” added Fadzli.

Established in 2018, MX Exchange as one of the four local pioneers in the blockchain and crypto space aims to be the preferred liquidity platform for cryptocurrency investors and token issuers in Malaysia.

The trading platform now accepts clients and is available on desktop via www.mxglobal.com.my and soon can be accessed via mobile application.  

Currently, MX Exchange supports Bitcoin and Ethereum trading pairs with the Malaysian Ringgit.

In conjunction with the launch and to celebrate Malaysia’s 64th Independence Day, MX Exchange will be running a zero (0%) trading fees promotional campaign for a period of six months starting from 31st August 2021 to 28th February 2022.