If it’s good enough for The Sovereign Military Hospitaller Order of Saint John of Jerusalem, of Rhodes and of Malta since 1048, then it’s a good enough place for Binance to launch the security tokens trading platform. Malta Stock Exchange’s fintech and digital asset subsidiary, MSX, signed a memorandum of understanding (MoU) with the cryptocurrency exchange Binance. Founded in Hong Kong, Binance moved to Malta after China cracked down on crypto.
“We are excited to continue to help build the blockchain ecosystem in Malta, which has become a global hub for blockchain technology through active and transparent crypto regulations,” CEO Changpeng Zhao said. “This partnership will allow Binance and MSX to host traditional financial assets on blockchain technology through security tokens. We look forward to bringing more innovations to Malta and further establishing our presence here.”
Malta is besties with the Isle of Man as a top stable tax haven in Europe and a smart place for crypto companies to make their legal home because it’s the world’s friendliest place on earth for the same new economy that’s making most of the rest of the world really nervous. “Malta is on the cusp of becoming a center of excellence within the global digital innovation landscape,” Portelli said at the time. Malta is the Switzerland of digital currency (sorry Zürich).
“Many exchanges may have users in a particular country, but this is often not where the company has chosen to legally register,” Morgan Stanley strategist Sheena Shah said in a report to clients. “The majority of cryptocurrency trading volumes operate out of companies legally located in Malta.”
While Switzerland is playing catch up (obviously being slowed down by Nazi gold), Malta is quickly becoming a much more attractive home for crypto startups and exchanges than their current homes in the U.K., Hong Kong, and the U.S.Leave a comment