Will Malta Become World’s Blockchain Capital?

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Malta hit the headlines when Binance, the largest cryptocurrency exchange with over $1.7 billion daily trading volume, announced last week that it plans to open an office in Malta.

With the fresh clampdown by Japanese financial regulator on popular cryptocurrency exchange, Hong Kong-based Binance decided to setup its new office on the island of Malta. Zhao Changpeng, the CEO of Binance told Bloomberg, “Malta is very progressive when it comes to crypto and fintech.”

Following Binance, its competitor OKEx made a similar announcement to expand its operations in Malta. OKEx is currently based in Hong Kong and is facing difficulties from the country’s Securities and Exchange Commission to obtain the required licenses. These licenses could have allowed for a fiat gateway thus opening the opportunity for collaboration with the banking system.

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April 23, 2018 at 04:00PM