The largest cryptocurrency exchange Binance plans to open an office in Malta, according to Bloomberg.
According to exchange CEO Binance Canina Zhao, the company intends shortly to open in Malta trading platform, on which, in particular, will be available to exchange Fiat currency into digital money. This has linkages with local banks, which will have to provide the possibility of depositing and withdrawing funds “without establishing a time frame”.
“We are confident that very soon we can announce a partnership with the banks, said Mr. Zhao. — Malta is very advanced in relation to cryptocurrency and Finance”
In conversation with reporters, CEO Binance recalled that his company operates in Japan and engaged in constructive dialogue with the financial services Agency. However, these negotiations ended with a warning from the regulator about the necessary licenses to continue operations in the country.
In addition, Zhao said that the company continues to negotiate with Hong Kong authorities, the results of which are still unclear. So, in February Binance received a warning from the Hong Kong securities and futures on the necessity of ending the trafficking of digital assets which, in accordance with local laws possess the properties of securities.
According to Canina Zhao, the Maltese government recently invited as an expert to discuss the upcoming bill, which aims to create favorable conditions for the development of kryptonyte in this Mediterranean country. Proof of this is today’s tweet of the Prime Minister of Malta Joseph Muscat in which the head of government commended the new initiative Binance:
Welcome to #Malta @binance. We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of choice for quality and world class fintech companies-JM @SilvioSchembri https://t.co/3qtAQjOpuQ
— Joseph Muscat (@JosephMuscat_JM) March 23, 2018
Earlier it was reported that Malta intends to become a world leader in the field of financial technological innovation. For blockchain implementation of the national strategy the government of this country attract financial experts from various countries.
Also this month Binance has announced the launch of a decentralized crypto currency exchange on a private blockchain.