The tiny island, Malta nation is now taking a pace for the major cryptocurrency exchanges, OKEX Technology. Apparently, Japan-based, OKEX Technology Co is now heading towards Malta to expand its operations.
OKEx is one of the pioneering cryptocurrency exchange that provides users with a robust crypto trading platform. At present, the exchange offers token-to-token and futures-like trading.
Japan’s OKEX Technology Co is extending its operations in Malta. The company’s announcement on Thursday made it clear that Malta will be the foundation.
Chris Lee, CEO of OKEx, states:
“We look forward to working with the Malta government as it is forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem”.
Also, Chief Risk Officer, Tim Byun said,
“Malta’s Virtual Financial Asset Act is a solid foundation for the industry and the government to work together in fostering the nascent blockchain/digital asset industry. More specifically, Malta’s sound risk-based approach will help cultivate a responsible, compliant, and healthy ecosystem”.
Malta the “Blockchain Island”
The tiny island, Malta is intending to develop a digital economy and to be niche as a natural destiny for crypto business. Since its approach towards crypto firms along with regulators globally.
Noticeably, the Maltese government were rewarded when top crypto exchange Binance announced its planning to set up its office in Malta. Thus, when the exchange was hacked about $500 million.
Zhoa Changpeng, Binance CEO said:
“We are very confident we can announce a banking partnership there soon. Malta is very progressive when it comes to crypto and fintech”.
Moreover, other firms like Tron and Monaco Card, a crypto wallet which has already convey their interest in positioning a place in Malta.
At the press time, The OKEx Crypto exchange was trading at $1,907,518,106 USD.