Crypto exchange OKEx will open its office in Malta. At the moment, the company is recruiting local staff and expects to start running before the end of the year.
Earlier, representatives of the trading platform have already stated that the progressive approach of the Maltese government has much in common with the values of the exchange. The state is actively engaged in the development of the blockchain ecosystem. Therefore, the company believes that the opening of a new unit on the territory of this state will lay the foundation for further development of the OKEx business.
"Malta is seeking to become one of the world’s safe & sound jurisdictions for digital assets. The country's passage of The Innovative Technology Arrangements and Services Act, The Virtual Financial Assets Act, and The Malta Digital Innovation Authority Act creates a solid foundation for the blockchain industry, providing a regulatory framework that is balanced and comprehensive, thereby providing regulatory certainty to help the digital asset ecosystem to flourish. As a world-leading digital asset exchange, we will work together with the Maltese government and regulators to provide full support in fostering the establishment of a global blockchain hub," said Tim Byun, Chief Risk Officer and Head of Government Relations of OKEx.
The exchange will also be close to its main competitor, Binance. Stock exchanges are fighting for leadership in the volume of trading. Recently it became known that Binance would join the MSX FinTech Accelerator Program, which supports fintech projects and crypto startups in Malta, the local Stock Exchange informs. For companies that seek an "easy access to a readymade solution at one of Malta’s most prestigious addresses – the Malta Stock Exchange” the program offers a range of services.
The move of the second leading cryptocurrency trading platform to Malta was the result of the competent regulatory policy of local authorities that recently adopted three important laws. A convenient legal environment attracts leading companies in the field of digital assets and facilitates the implementation of a plan to turn Malta into a blockchain island.
By Ekaterina Ulyanova