Binance received official approval from the Malta Stock Exchange to invest in Maltese fintech businesses.
Situated between Sicily and the North African coast, Malta is known as a crypto-friendly destination, which recently claimed it plans to become the world’s first blockchain regulated state. Along with small states such as Bermuda, Liechtenstein, Gibraltar and San Marino, Malta is an important player in the crypto sector that has shown its interest through investments made in this field.
Binance, the world’s largest cryptocurrency exchange after 24-hour trading volume (according to CoinMarketCap), was invited to join the MSX Fintech Accelerator. released by the Malta Stock Exchange. According to the country’s exchange, the accelerator aims to create a favorable environment for the development of crypto startups. The program provides professional services such as accounting, payroll and office space. In addition to the Binance operator, the Malta Stock Exchange offered the green light to Thomson Reuters and added it to the list of mentors.
Joseph Portelli, the chairman of the Malta Stock Exchange, claimed the accelerator has “easy access” for both national and international businesses. “It is clear that Malta is becoming a fintech and blockchain center of excellence,” Portelli added.
Yesterday morning, the Malta Stock Exchange announced its followers on Twitter that will give the chance to up to 12 fintech startups to benefit from the newly launched program.
The @MaltaStockExch is pleased to announce the MSX Fintech Accelerator. Will accept up to 12 Fintech Cos. to utilize our facilities.Thank you @binance & @cz_binance for a lead mentoring Co.@JosephMuscat_JM @edward_scicluna @SilvioSchembri https://t.co/jSLNTmanI8
— Malta Stock Exchange (@MaltaStockExch) June 18, 2018
“We moved our operations to Malta precisely because it has demonstrated its progressive approach to supporting and developing the crypto and blockchain industry. Malta is creating a safe and legislated environment for the industry to become reputable, attracting companies like ours and many others,” Binance mentioned in a statement.