MoonXBT Announces Country Level Cooperation with Cambodia Signing MOU with SERC
SINGAPORE, Oct. 11, 2022 /PRNewswire/ -- MoonXBT, the leading crypto social trading exchange, signed the MOU with Securities and Exchange Regulator of Cambodia (SERC) on Oct, 11th at One Central Tower in Phnom Penh, Cambodia. MoonXBT will work with SERC closely in cooperation to promote the development of the digital assets in Cambodia in the regards of raising awareness and human resources, etc.
The MOU signing conference was attended by some of the highest level officials and guests including the chief director of SERC, Sou Socheat, the vice dean of China Development Institute (CDI), Dr. Qu, the former vice president of Bank of China, Dr. Wang, and the deputy head of division at securities and exchange commission of Cambodia, Pich Rithy.
MoonXBT, represented by its country manager Anderson, is the only crypto exchange at site among other attendees to have signed the MOU. MoonXBT is also the second crypto exchange after Binance who also signed the MOU with SERC in June this year, to become a working partner with SERC.
Mr. Sou Socheat, the chief director of SERC, made a post emphasising the cooperation between SERC, CDI and MoonXBT on his personal Facebook account as well.
This is great recognition of the legitimacy and professionalism of MoonXBT as a crypto exchange platform given that it can be chosen as a second exchange following Binance to work with SERC, according to Anderson, the country manager of MoonXBT.
Moreover, it showcases MoonXBT's total capability to work in compliance with regulations. "This means much more than getting licences from local government, this is the trust to MoonXBT from the top government straightforward," says Anderson. In addition to Cambodia, MoonXBT is also working with local regulators in other countries and regions as well. But with this start, the platform is expected to get regulatory recognition in more countries soon.
According to the MOU, MoonXBT will provide support to the SERC for further development, adoption, and implementation of related frameworks and laws pertaining to new financial products including the digital assets.
With the digital asset adoption and transaction developing in the region of Southeast Asia at high speed, Cambodia is striving to become a leading runner. By working with crypto exchanges, it will have the help to lay the foundation for the establishment of a regulatory framework for digital assets.
Although founded for less than three years, MoonXBT has built a firm brand as an innovative and fast-growing crypto social trading platform especially in Southeast Asia. It now has users from Vietnam, Indonesia and Malaysia from the region, and it is one of the top three crypto derivative exchanges in Vietnam.
MoonXBT now has more than two hundred thousand users covering about 100 countries. It has even seen a great spike in trading volume in September in spite of the bearish crypto market after it has launched multiple creative crypto derivatives such as perpetual contract and 2022 MoonXBT Football Token product. Its flagship product copy trading is also attracting more and more professional and rookie traders to come onto the platform which has contributed stable and constant cash flow.
"Signing the MOU is definitely a milestone for the development of MoonXBT. It will take this chance to fast forward its global regulatory compliance work, and will also use the experience it has gathered in the region to promote the development of Cambodia's digital asset class," says Anderson of MoonXBT.
For more information, please visit : www.moonxbt.com
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