Malaysian Government approves new Crypto Exchange to operate and starts plan to eliminate dependency on US dollar.

Below excerpt article reported by Blockhead. (2024, February 29). Homegrown Startup Torum Wins Provisional License for Crypto Exchange in Malaysia. Blockhead

Homegrown Startup Torum Wins Provisional License for Crypto Exchange in Malaysia

“This approval from the Securities Commission Malaysia not only solidifies Torum’s position in the digital asset exchange market but also underscores Malaysia’s growing significance as a hub for cryptocurrency adoption and fintech innovation.”

“This milestone positions Torum as the sixth regulated DAX in Malaysia, marking a pivotal moment for the homegrown startup in the burgeoning cryptocurrency sector. The other five licensed DAX operators are Hata, Luno, MX Global, Sinegy, and Tokenize.”

“According to Torum, its mission is to simplify the cryptocurrency onboarding experience for Malaysians, making it easier for individuals from all walks of life to trade, send, and store cryptocurrencies within a regulated and secure environment. With this conditional approval, Torum is now focused on meeting the full compliance requirements set by the SC to launch its platform officially.”

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