Crypto-trading giant Binance has started planting its roots in Malta, launching a new scheme to help 12 Maltese fintech and crypto start-ups in collaboration with the Malta Stock Exchange.
Binance’s MSX FinTech Accelerator Programme, which will be based at the stock exchange, will provide services and facilities to start-ups, such as in-house accounting services and payroll, office space, communication devices, conference rooms and a training centre.
Start-ups will also be provided with mentoring, with Thomson Reuters already signed up as a programme mentor.
The @MaltaStockExch is pleased to announce the MSX Fintech Accelerator. Will accept up to 12 Fintech Cos. to utilize our facilities.Thank you @binance & @cz_binance for a lead mentoring Co.@JosephMuscat_JM @edward_scicluna @SilvioSchembri https://t.co/jSLNTmanI8
— Malta Stock Exchange (@MaltaStockExch) June 18, 2018
“We moved our operations to Malta precisely because it has demonstrated its progressive approach to supporting and developing the crypto and blockchain industry,” a Binance spokesperson said. Malta is creating a safe and legislated environment for the industry to become reputable, attracting companies like ours and many others.”
“It is clear that Malta is becoming a Fintech and blockchain centre of excellence and we want to allow local and foreign companies the ability to bring their ideas to the market faster,” stock exchange chairman Joseph Portelli said. “This programme offers foreign entrepreneurs easy access to a readymade solution at one of Malta’s most prestigious addresses – the Malta Stock Exchange.”
Binance’s move comes as Parliament prepares to debate three bills intended to regulate the blockchain industry. Malta’s decision has proven widely popular amongst the global crypto industry, with several start-ups and established firms confirming plans to relocate to the island.