Malta Going to Become a Blockchain Island
Bincent, the world's largest cryptocurrency exchange market with a daily transaction volume of $ 1.7 billion over the past few weeks, has taken the decision to move its headquarter to Malta offering many advantages and privileges in cryptocurrency.
Binance moved its headquarters and resources along with its current team to Malta and decided to hire more than 200 workers full time to fully set up the company in that region. The most important reason for this decision is the security and measures that the Maltese government will provide to the Binance stock.
The Malta government’s General Secretary for Financial Services, Digital Economy and Innovation Unit, Silvio Schembri stated they have made an important decision in the cryptocurrency sector after all these talks with the Binance team, and said:
“This shows that our government is confident in the cryptocurrency sector and the work done so far in this sector. Malta has recently become a sought-after country in this sector, and many companies will be attracted by the fact that a large company such as Binance also operates in our country. As Malta, we will continue to keep our vision open by consolidating our steps in this area. The presence of Binance is the result of this vision and our project of making Malta a blockchain island will also continue.”
Changpeng Zhao, CEO of Bincent, said the Binance team was influenced by the logical and forward-looking nature of Schembri and the Maltese government, he added:
“After our meeting with Silvio Schemberi, we were very impressed with the logical and forward-looking nature of Malta. After reviewing the proposals, we believe that Malta will become a centre for innovative blockchain companies and a block-centred system in Europe. Binance will help shape a sound regulation.”