The latest reports coming from the industry shows that the world’s biggest cryptocurrency exchange by trading volumes ‘Binance’ is looking to shift its headquarters to Malta owing to its crypto-friendly environmental conditions.
Although shifting all of your operations to a foreign land is not an easy task for any business, but it seems like the pro-blockchain behaviour of the Malta region has given the cryptocurrency exchange the confidence to operate in this region. Binance with its entire team will be shifting its operations and will employee additional 200 people from the island.
As reported by Bloomberg, Binance’s Chief Executive Officer Zhao Changpeng said that the company is pretty much close to secure a deal with local banks of Malta who will be giving Binance’s customers the access for deposits and withdrawals. Zhao said: “We are very confident we can announce a banking partnership there soon. Malta is very progressive when it comes to crypto and fintech.”
As Binance exchange getting more popularity from cryptocurrency users, Last month they have getting users more than expected.
Malta’s Prime Minister, on the other hand, welcomed Binance with open arms tweeting: “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.”
Malta’s Parliamentary Secretary for Financial Services, Digital Economy & Innovation – Silvio Schembri – during an interview said that he is very much confident about the work done by the European Island in the cryptocurrency space and Malta’s further entry to it would help it to evolve as a Blockchain Island.
Schembri said: “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. It is obvious that Malta has become a natural point of reference on the international sphere and companies such as Binance will continue to look into Malta to further expand their operations or establish a base. Binance’s presence in Malta sustains our vision, that of making Malta ‘The Blockchain Island.”
In an official statement, the Binance team acknowledge Malta’s welcome and said that having visited several regions, the company decided to move its base to Malta looking to the existing regulations and pro-blockchain legislation for a local digital currency business.
Finance CEO Zhao Chanpeng said that he was inspired by the forward-thinking and logical nature of Schembri and the rest of the Malta government officials. Zhao said: “After meeting with Parliamentary Secretary, Mr Silvio Schembri, we were impressed by the logical, clear and forward-thinking nature of Malta’s leadership. After reviewing a proposal bill, we are convinced that Malta will be the next hotbed for innovative blockchain companies and a centre of the blockchain ecosystem in Europe. Binance is committed to lending our expertise to help shape a healthy regulatory framework as well as providing funds for other blockchain start-ups to grow the industry further in Malta.”
