2021-09-19

MX Global: A New Malaysian In-House Digital Asset Exchange


MX Exchange
MX Global
 

Great News to All Malaysian! We have another Securities Commission Malaysia (SC) Recognised Market Operator-Digital Assets Exchange (RMO-DAX) for the trading of cryptocurrency.

Announced on their website on 22 July 2021, MX Global has become another platform for Malaysians to choose from. MX Global is similar as the other 3 crypto exchanges Malaysia. Users can buy and sell Bitcoin and Ethereum straight using Malaysia Ringgit (MYR). Unlike other global exchanges, users will need to convert MYR to other currencies first, then only they are allowed to make a purchase. Hence, price may include exchange rate risk due to currency acceptance of the platform. Therefore, by using a Malaysian Recognised Market Operator-Digital Assets Exchange (RMO-DAX) platform, exchange rate risk is able to be eliminated.

Zero trading fees campaign by MX Exchange
Zero trading fees promotional campaign will be running for 6 months starting 31st August 2021
 

In conjunction with Malaysia’s 64th Independence Day, MX Global offers 0% fees for its loyal clients. User can trade 2 currency pairs of BTC/MYR and ETH/MYR with zero (0%) trading fees starting 31st August 2021 (12.00 AM GMT+8) to 28th February 2022 (11.59 PM GMT+8).

This promotional campaign is to lower the entry barriers for new users of the crypto space to start investing in the 2 biggest cryptocurrencies in the world, Bitcoin (BTC) and Ethereum (ETH).

With the existence of this new platform, investors will also be able to take advantage of arbitrage opportunities between the 4 digital asset exchanges in Malaysia. Experienced traders can purchase BTC and ETH on any exchanges that offers a much lower price and move to sell on exchanges that offer higher selling prices. This will increase the liquidity of both exchanges. Hence, will indirectly boost Malaysian digital asset activity.