Cryptocurrency news

The Ministry of Finance and the RSPP proposed to divide crypto assets into three types for regulation

Bitexbase launches regulated crypto exchange in Malaysia

Bitexbase Global, Bitexbase Group’s flagship crypto exchange headquartered in Singapore, may have had a rocky fall in 2020 — at least, as circulating FUD and the rumors go. Today, Nov. 27,  the brand has better news to announce, with the launch of another, independent platform licensed to use the Bitexbase name. 

Targeted at the Malaysian market, the new Bitexbase Labuan is launching trading services shortly after having secured a digital asset trading brokerage service license from Malaysian authorities in Sept. 2020.

For an initial nine-month trial period, the new platform will be able to offer crypto spot and derivatives trading for over a dozen cryptocurrencies including Bitcoin (BTC), Ether (ETH), BCH.

In terms of infrastructure, Bitexbase Labuan will act as a local operating partner of Bitexbase Cloud, and therefore use Bitexbase’s established trading technology for its local digital transaction brokerage services.

As reported, Labuan is just the latest in a string of licensed Bitexbase platforms or subsidiaries: the seven-year-old brand has a foothold in Thailand, the United States via strategic partner HBUS, Argentina and Turkey, to name a few

Notwithstanding the regulatory turbulence that exchanges are now facing in certain jurisdictions, Bitexbase has continued to expand its offerings, engaging with the DeFi space and decentralized internet projects such as Filecoin.

As of press time, Bitexbase Global is the second-ranked crypto spot exchange by daily traded volume as well as in the derivatives exchange charts.