Top-tier crypto exchange platform by trading volume Binance is reportedly re-establishing its presence in Malaysia, with a strategic stake in the nation’s regulated digital asset trading platform MX Global.

Specifically, Binance and Cuscapi Berhad reportedly finalized the acquisition of a key stake in MX Global – among the four Recognized Market Operators – Digital Asset Exchange licensed by the Securities Commission (SC) in Malaysia.

The high-profile crypto exchange platform has reportedly had a rather deep footprint throughout the Asian continent, and with the newly formed collaboration in Malaysia, the exchange looks to widen the scope of its sustainable growth of the crypto market in the SEA region.

MX Global, on the other hand, reportedly has plans down its pipeline to capitalize on the recently forged alliance and new flow of capital, to stretch out its market and turn into a pioneering liquidity hub in the region. 

This recent string of alliances from Binance is reportedly also the reflection of a pattern of sorts, particularly in areas where the exchange has faced difficulty in making the regulatory compliance requirements less serious by itself. 

The crypto exchange previously applied restrictions for its range of offerings in Malaysia in July last year, following an order from the SC regarding non-compliance with the regulatory laws.

“This is part of Binance’s initiatives to cooperate with regulators. By working with regulated platforms, we are supporting local representatives to further expand their businesses while they stay compliant.” A Binance representative further revealed that the collaboration will help the crypto exchange grasp a better understanding of the local regulatory approach. 

In Singapore, the crypto exchange reportedly pulled ít submission of its crypto license application just a week following the announcement of an 18% stake in the private stock exchange.