MX Exchange gets nod as Recognised Market Operator-Digital Asset Exchange in Malaysia, appoints Fadzli Shah CEO
By Digital News Asia August 27, 2021
- Gets nod from Securities Commission Malaysia for cryptocurrencies trading
- Opportunity to engage new investors & realise fintech innovations in market
MX Global Sdn Bhd which owns and operates MX Exchange announced today that they have been granted full approval by the Securities Commission Malaysia to operate as Recognised Market Operator-Digital Asset Exchange (RMO-DAX) for the trading of cryptocurrencies in Malaysia.
Founded in 2018, MX Exchange is a 100% Malaysian owned DAX which aims to be the preferred liquidity platform for cryptocurrency investors and token issuers in Malaysia. The trading platform is available on desktop and soon mobile application. Currently, MX Exchange supports Bitcoin and Ethereum trading pairs with the Malaysian Ringgit.
To strengthen its market appeal MX Exchange has appointed Fadzli Shah as its Chief Executive Officer. His extensive experience in the digital and startup worlds, both locally and abroad adds significant value and network towards MX Exchange’s mission as one of the four local pioneers in this space. Furthermore, his extensive work at MDEC and on the MyDigital and National 4th Industrial Revolution policies would enable MX Exchange to find the relevance and opportunities for Digital Assets and Blockchain, not just in private industry but also the public sector and civil society.
Fadzli, CEO of MX Exchange said, “We are deeply grateful for the confidence entrusted upon us by the Securities Commission Malaysia (SC). 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.”
MX Exchange is now LIVE, providing Malaysian investors with a safe, secure and reliable licensed trading platform.
In conjunction with the launch and to celebrate Malaysia’s 64th Independence Day, MX Exchange will be running a zero trading fees promotional campaign for a period of six months starting from 31st August 2021 to 28th February 2022.
Fadzli added, “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.”
New clients are invited to sign up with MX Exchange now, while existing clients will be able to login and experience a new trading platform. New enhanced features will be added soon so be sure to stay tuned.
MX Exchange is now live for all Malaysians and can be accessed via www.mxexchange.com.my