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Another Top Crypto Exchange Moves to Malta

Fredrik Vold
Last updated: | 1 min read

The South European island of Malta has caught another big fish in its net as it continues its journey to become the top jurisdiction for all-things crypto and blockchain in Europe.

Source: iStock/Maltaguy1

According to a tweet from Silvio Schembri, junior minister for financial services in Malta, Chinese crypto exchange has now become the latest crypto exchange to call Malta home. According to Schembri, the company has pledged to invest over 20 million euros and employ more than 150 people on the island over three years., on its end, noted that the new exchange will be officially launched in September this year under the name, and that it intends to add EUR in its first fiat-to-crypto markets. currently ranks as the fifth largest exchange (among markets with fees) by trading volume (USD 267 million at the time of writing) on Coinmarketcap’s rating and offers a large selection of crypto-to-crypto markets to trade in for Chinese users.

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Source: UTC 04:10 AM.

While other countries have been known to actively crack down on crypto exchanges operating on their territory, Malta has taken a different approach and has attracted millions of euros in new investments as a result.

Previously, both Binance and OKEx have made the move to Malta, with Binance reportedly setting up its new decentralized exchange on the island. Both companies have also previously announced technology partnerships with major players on the island, including the Malta Stock Exchange.