Binance moves to Malta
Binance, the largest cryptocurrency exchange (by traded value) in the world, is moving to Malta. The country seems to be an excellent place for crypto-business. Its government plans to regulate virtual currencies, token sales, crypto-exchanges and blockchain-based businesses in general.
The world’s largest cryptocurrency exchange platform, founded in 2017 in Hong Kong by Changpeng Zhao, now is looking for a better place for doing business and it will be Malta.
“Malta is very progressive when it comes to crypto and fintech,” Zhao said.
Later he added, that Binance will soon start fiat to crypto exchange on their platform in Malta.
“We are very confident we can announce a banking partnership there soon,” he added.
Also, they are close to secure the deal with Malta’s banks to provide access to deposits and withdrawals, they didn’t provide any timeframe.
One of the reasons behind moving to Malta is warning issued by Japan’s Financial Services Agency to the Binance, for operating without approval.
Welcome to #Malta 🇲🇹 @binance. We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies -JM @SilvioSchembri https://t.co/3qtAQjOpuQ
— Joseph Muscat (@JosephMuscat_JM) 23 marca 2018
According to Prime Minister of Malta, they are happy to see more businesses involved in blockchain technology and want to become an idyll for them and trailblazers for other countries.
The time will show how Malta will cope with the task and how many fintech companies will move their facility there.
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