Rick Klink, a top Australian fintech executive, has joined Malta Digital Exchange (MDX), a security token exchange which is about to launch, as its CEO, MDX said in a statement. Klink, who has founded Paritech, which develops stock market brokerage systems, and Open Markets, the largest independent trading platform in Australia with an annual trading volume of over A$50 billion, will integrate the technologies from his companies into MDX.
Malta Digital Exchange plans to become a preferred security token exchange by both investors and token issuers, aiming to ensure a higher degree of market efficiency, liquidity, accessibility, and transparency.
Security tokens represent a digital form of securities, generally stored on a type of distributed ledger technology (DLT), of which blockchain is the most popular. The tokens can be backed by ownership of private equity, real estate or other real-world assets.
Besides security tokens, Malta Digital Exchange intends to operate with virtual financial assets (VFA), thus becoming a multi-asset digital exchange. The company picked Malta as the location for its headquarters and business operations given the country’s blockchain-friendly legal and regulatory framework.
“It's a very exciting time in the digital assets space with the rapid emergence of security tokens. Malta Digital Exchange is at the forefront of the current Capital Markets 2.0 wave,” Klink commented.
The crypto and blockchain industry noticed an impressive expansion last year. Today, the markets are moving towards regulation, which should ensure a safe ecosystem for both retail and institutional investors.
Some countries, such as Malta, are speeding up blockchain adoption by developing favorable laws. The Maltese government is working on three crypto and blockchain laws.
MDX will use the technology provided by Paritech, which develops and integrates low touch and affordable stock market brokerage systems. Some of the exchange’s features will be instant order matching T+0, limited and unlimited orders, minimum and partial executions, and adjustable and special fees.