Even though there is not much excitement in the prices of cryptocurrencies at the moment, much is happening in the market. A few weeks ago, the blockchain hub and island Malta, released news about opening the first regulated crypto bank; Founders bank. The bank got financial support from the worlds biggest crypto trading platform, Binance, who have even moved their business to Malta.
Now, another exchange has moved to the blockchain friendly island, and after several announcements regarding cryptocurrency exchanges and crypto banks, we make another announcement that ZB.com is coming as well. ZB.com, the world’s fifth-largest cryptocurrency exchange by daily trading volume, is now coming to Europe and chose Malta as its hub and more precisely St Julian’s. A bustling business centre in the heart of Malta. This latest announcement follows those by Binance and OKEx who have also opened offices on the island.
The company will initially start out as a ‘crypto-to-crypto’ style operation, and will eventually look to offer a ‘fiat-to-crypto exchange’ on the European island nation. Maltas reputation about blockchain is famous all over the world and is not overlooked by ZB.com. The company is the 5th largest exchange in the world by trade volumes according to Coinmarketcap.com, trading around $400m daily.
“Malta is perhaps the world’s most progressive and forward-thinking nation in DLT, crypto and Fintech, and we are very excited to be part of the Blockchain Island”, co-founder Jimmy Zhao said. “We are confident we will be able to announce our live operations soon”, he continued.
Silvio Schembri, Parliamentary Secretary for Digital Economy and Innovation, also tweeted about the announcement and said the following:
“Welcome to the blockchain island ZB.com. Looking forward to your investment of over 20M in the first three years and employing over 150 people.”
Other countries are hesitant to get into the crypto space, but Malta is a country at the frontier, stating that they are the “blockchain island”. Marcel Cassar, the chair of Malta Bankers associations, stated a while back that cryptos are here to stay, a story covered by Toshi Times. Malta passed new, crypto friendly, regulations a while back which is a reason that many big players such as Binance moved to Malta. The country seeks to be the number one blockchain country in the world.
Zhao said he had recently been invited to Malta by his local partners and met with the Maltese government to discuss their crypto exchange operations. “You quickly realise Malta’s commitment to building and supporting the crypto ecosystem”. And continued by saying “Malta is perhaps the world’s most progressive and forward-thinking nation in DLT, crypto and Fintech, and we are very excited to be part of the Blockchain Island”.
The leading exchange is exhibiting at the Malta Blockchain Summit, punctuating their arrival to the Blockchain Island.
Image Source: “Flickr”
Dennis Sahlström has been trading and investing since 2012 and has for the last two years been consistently profitable. He has been in the crypto- and blockchain space since the middle of 2017 and realized its potential for our world, not least how it is transforming the society we live in. He has now created an education platform, together with the wealth coach Marcus the Maria. They teach regular people how to invest and trade in the cryptocurrency market with proven strategies. If you want to learn more and feel like its time to get into this new asset class, download our free book and register to the next live training to get your future in cryptocurrencies started.