MoonXBT, the first crypto social platform, has signed an MoU with the Securities and Exchange Regulator of Cambodia (SERC). MoonXBT is the second crypto exchange who signed an MoU with SERC, just after Binance.
This marks MoonXBT’s obtaining of the highest level of recognition from the exchange and security regulation force of the Cambodian government, which values even more than registering licenses in certain countries or areas, for instance, MSB in the United States and Canada. The signing of the MOU not only indicates MoonXBT’s compliance with the local regulations of Cambodia but also lays the foundation for MoonXBT to operate in the country as a strategic partner to the central government.
The chief director of SERC, Sou Socheat, and the deputy head of the division at the securities and exchange commission of Cambodia, Pich Rithy were on the stage together with the representative from MoonXBT to celebrate the formation of the cooperation.
At the same ceremony, SERC also signed an MOU with China Development Institute, CDI, a high-end think tank based in Shenzhen that develops policy solutions through research and debates to help advance China’s reform and opening-up. The fact that MoonXBT was chosen as a crypto exchange partner along with a Chinese high-end think tank is a testament to its legitimacy, security, and professionalism.
Going forward, MoonXBT has made massive developments in Cambodia in compliance with Cambodia’s regulatory evolution with the experience it has accumulated in the crypto industry and in the regional market.
At the macro level, MoonXBT will provide consultancy regarding the strategy and security of digital assets to SERC. It will also help SERC with the development, adoption, and implementation of the regulatory framework, laws, and products of innovative financial products including digital assets.
Within 3 years, MoonXBT plans to establish an innovative financial platform with the best rates and most beneficiary transaction fees for the Cambodian market. It will also help to promote the adoption of crypto through both online and offline channels in Cambodia.
MoonXBT will also make use of its strong R&D power to develop an identity recognition application for Cambodian citizens so that they could use it as a gateway to access the governmental websites at large. In addition, MoonXBT will also provide job opportunities and make injections to the talent pool of digital assets in Cambodia.
Moreover, with Cambodia as a founding stone, MoonXBT will expedite its compliance work in the entire Southeast Asia region and more so around the world. The partnership with SERC justifies MoonXBT as a trustworthy, reliable, and safe crypto exchange which will make it more smooth for MoonXBT to obtain regulatory approval elsewhere.
In the meantime, MoonXBT will also take Cambodia as a central spot to carry out innovations and will soon replicate the successful innovations in the region. “It will be a matter of time for MoonXBT to lead the growth of digital assets in the era of web3.0 in Cambodia and the region of Southeast Asia,” says Anderson, the country manager of MoonXBT from Indonesia.