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Another Global Cryptocurrency Company Is Expanding To Malta

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OKEx, a world-leading digital asset exchange serving millions of customers in over 100 countries, has announced it will be expanding to Malta. It will be the latest multi-cryptocurrency company to announce its entrance to the Maltese market in recent weeks

“OKEx met with the Maltese government and regulatory leaders to understand their legislative and regulatory plans, and provided written feedback and engaged in open dialogue. We are confident in the Maltese government’s approach and decided to make Malta a foundation for further OKEx growth,” the company said in a statement.

The company focuses on professional traders, and offers token-to-token and futures-like trading. OKEx also said it would be participating in the Maltese DLT Delta Conference on October, 2018.

“We look forward to working with the Maltese government as it is forward-thinking and shares many of our values: the most important of which are protection of traders and the general public, compliance with Anti-Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem,” said Chris Lee, CEO of OKEx.

OKEx is hoping to take advantage of Malta’s Virtual Financial Asset Act, which they believe is a solid foundation for the industry and the government to work together on. The company also praised Malta’s sound risk-based approach.

Prime Minister Joseph Muscat welcomed the company to Malta. He said that Malta was “fast becoming the jurisdiction of choice for Distributed Ledger Technology companies in the European Union and globally.”

OKEx is the latest company to expand to Maltese shores after companies like Tron, Binance, BigONE entered the Maltese scene. Their moves come after the government stated it wanted to become the first country in the world to fully regulate blockchain companies.

What do you think of this move?

READ NEXT: How Malta’s Embrace Of Blockchain Is Set To Seriously Help Undocumented Refugees

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