Binance, the world’s largest cryptocurrency exchange platform announced its operations set up in Malta on 23rd March 2018. After a few reviews of several different locations, the company decided to set up operations in the European nation. Binance has chosen this location because of it’s existing pro-blockchain legislation and the stability offered to financial institutions through its regulatory framework. With plans to substantially grow its operations, there are plans to hire around 200 people for assistance in the expansion process.
Changpeng Zhao, CEO and Founder Binance said they were ‘impressed by the logical, clear and futuristic thinking after meeting with the Parliamentary Secretary’.
Malta’s Government, an E.U. member nation is pro-blockchain and is actively building a supportive regulatory and technical infrastructure. Last month they revealed the plans for a Malta Digital Innovation Authority. A Virtual currency Act is being formalized and this is expected to pave the path for a first of its kind auditing framework made specifically to regulate blockchain-driven investment operations such as token sales.
Hon. Silvio. Schembri expressed his satisfaction over Binance’s decision. He says:
“This is a clear vote of confidence in our country and the work being done in this sector, mainly by the latest policy launched to offer a regulatory framework of DLT operations.”
Malta’s Parliamentary Secretary for Financial Services, Digital Economy, and Innovation commented:
“Malta has obviously become a hotspot and a natural reference frame which the companies such as Binance will continue to look into for further expansion of their operations.”
Shembri revealed the vision of making Malta ‘The Blockchain Island,’ which will be sustained by Binance.
Alexandre Dreyfus, CEO of Mediarex congratulated Binance:
“I’m sure Binance is going to help to build a strong ecosystem in Malta and also help entrepreneurs, funds and fintech to develop their initiatives.”
Aman Kharim, a Binance user said:
“I have many accounts for various investment reasons but binance is the best. I keep my main account there and leave a substantial amount of money on the exchange, never had any issues.”
Anjeli, a Twitter user says:
“Malta, Hello there! I always thought this was why you moved over there.”
Another Twitterati says:
“Congratulations! Onwards and upwards. #WeAreRebellious”
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