With the initial crackdown in China, Hong Kong based Binance cryptocurrency exchange looked to make a move to a friendlier place, landing itself an office in Tokyo, Japan. As you’ve heard by now, due to the recent crackdown by the Japanese government, Binance is once again looking for a new home and Malta seems to be the frontrunner for a new office location.
Malta is a European island located south of Italy in the Mediterranean Sea. It has a liberal outlook towards cryptocurrencies as it looks to attract more businesses and wealthy individuals to help expand their economy.
This is a great opportunity for Binance as well, as it allows the team to gain more users and gain traction across Europe. “We are very confident we can announce a banking partnership there soon..Malta is very progressive when it comes to crypto and fintech.” – ChangPeng Zhao, CEO of Binance Binance has well over 10 million active users and a daily trading volume north of USD$1.7 billion, putting it in elite status as one of the largest cryptocurrency exchanges in the world.
While Binance is currently a crypto-to-crypto exchange only, the European island of Malta provides a liberal regulatory policy that has Binance looking to launch a fiat-to-crypto exchange with support from local banks. This will definitely lead to an influx of new users and if the service is competitive enough, Coinbase users may start jumping ship and moving over to Binance for their trading needs.
Binance is looking to be the world leader in all aspects of the digital age. With one of the largest crypto-only exchanges, the future roadmap contains some ambitious initiatives. Read more from investing.com…
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