Cryptocurrency exchange Binance opened a Bank account in Malta

As stated by CEO and co-founder of one of the largest cryptocurrency exchanges Binance, Chanpen Zhao (Changpeng Zhao), the company opened a Bank account in Malta, which is one step closer to the stock exchange to implement its plan to launch fiato-cryptocurrency deposits with the possibility of withdrawal.

In addition, experts believe that having a Bank account in Malta will increase the liquidity of the exchange and facilitate the entrance of new investors. According to Campana Zhao, better known as CZ, open a new Bank account, he said «very significant step» from the moment it was first announced that the exchange moves its headquarters to Malta.

CZ hopes that during this year the company will fail to start fiato-cryptocurrency trading, which Binance plans to offer traders in Uganda and potentially in Asia. Including the company is in talks with the stock exchange of Malta about a possible collaboration.

According to the head of Binance, Malta is one of the best places for blockchain-companies. You could even say that this is not just an island, but «Island of the Blockchain». CZ commended the «very friendly and reasonable» stance of the local regulators to the cryptocurrency industry. Thanks to favorable tax and regulatory climate, only in March of this year in the jurisdiction of Malta moved a few dozen blockchain-companies.

However, when we are talking about fictional Islands, founder of the Binance hastened to refute rumors that the exchange was purchased by a private island, which intends to create a microstate with extensive use of the blockchain.

«From a conceptual point of view, it is quite possible, but there is … since this is an easy option, the creation of the company that is difficult enough,» said Chanpen Zhao.

According to him, at the moment Binance working on «higher priority» project to create a decentralized exchange. Just last week Binance announced their plans to create a
large Fund at $ 1 billion to support the blockchain-related startups.

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