Crypto Trading Giant Binance Strikes Its First Deal In Malta

And it's with an online poker king

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Mediarex CEO Alexandre Dreyfus (left) takes a selfie in Valletta with Binance boss Zhao Changpeng 

The Maltese Parliament hasn’t even started debating a bill to regulate the blockchain industry, but that hasn’t stopped crypto-trading giant Binance from striking an early deal with a Malta-based gaming platform.

Binance, one of the biggest crypto-industries who have confirmed plans to relocate to Malta, will invest in chiliZ, a blockchain-based platform that allows sport and esport organisations to tokenise voting rights to their fans. 

chiliZ is owned by Mediarex, whose CEO is Alexandre Dreyfus - a French digital entrepreneur who moved to Malta over a decade ago to set up Chilipoker, a successful online poker rooms whose revenue runs in the tens of millions. 

Renowned as a shrewd businessman, Dreyfus’ eyes are now clearly fixed on the budding blockchain and cryptocurrency industry, which Malta hopes will turn it into a second Silicon Valley. Indeed, he has already positioned himself as director of the Maltese subsidiaries of Binance and Tron - another blockchain-based giant. 

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Dreyfus is renowned for designing the Chillipoker platform 

Dreyfus was also present in a recent meeting in Castille between Binance’s CEO Zhao Changpeng and digital economy parliamentary secretary Silvio Schembri. 

In a joint statement today, Zhao and Dreyfus said they are both confident the video gaming space will be one of the next major industries to adopt blockchain services. 

Schembri

Parliamentary secretary Silvio Schembri (left) in a recent meeting with Zhao and Dreyfus

“The two industries share similar user/audience demographics — well connected, educated and fairly affluent millennials, with a knowledge and interest in virtual currencies, and experience in trading digital assets,” they said. “Having already secured over $27 million through an ongoing private placement phase, chiliZ have welcomed the investment from Binance, as it will enable the sharing of technical knowledge, innovation and creativity, and will also helping chiliZ to deliver its vision on a global scale.”

Dreyfus said he is excited at Binance’s impeding relocation to Malta, arguing this will allow the two companies to build a strong cluster and regulated ecosystem of innovative finch and blockchain companies in the entertainment space. 

Zhao said he is thrilled to be supporting chilliZ, describing the initiative as a creative way to embrace blockchain in industries with a massive global growth rate.

Are you excited about Malta's crypto future? 

READ NEXT: ‘Don’t Over-Regulate Us’, Excited Silicon Valley Crypto Investor Cautions Malta

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Written By

Tim Diacono

Tim Diacono tends to clam up when asked to describe himself. You can contact him on timdiacono@lovinmalta.com

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