In August 2018, the latest cryptocurrency exchange, ZB.com, announced that it will be launching an exchange in Malta. The Chinese company allows for users to easily exchange cryptocurrencies, simplifying the process, whilst nonetheless ensuring the transactions are verified with real-time authentication. Currently, ZB.com supports over 80 cryptos, including Bitcoin, Qtum and Ethereum.
Malta’s Junior Minister for Financial Services, Digital Economy and Innovation Hon Silvio Schembri was also proud to announce that ZB.com will be making an investment of over $20 million within the first three years, employing over 150 people in Malta.
The co-founder of the company, Jimmy Zhao, praised Malta for its progressive and avant-garde approach towards DLT, Crypto and Fintech. This settlement within the ‘Blockchain island’ will allow ZB.com to seek development on a global level and will also establish Malta as a leader within the Blockchain industry.
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Malta at the forefront of global cryptocurrency exchange
As the world’s 5th largest cryptocurrency exchange by traded value, ZB.com intends on initially limiting its exchanges to crypto-to-crypto exchanges. In the future, however, it plans on providing fiat-to-crypto exchanges. It will be opening its exchanges to the European markets, however, it will not be offering a digital token.
The attitude Malta has adopted towards accommodating innovators in cryptocurrencies and blockchain is continuously attracting various industries using this technology. Zhao’s visit to Malta relieved his growing frustration over the lack of certainty most countries around the world have over the regulation of such innovative technologies. By specifically regulating this industry, the Maltese future-proof legislation in place will invite crypto and blockchain businesses like ZB.com to set up shop in Malta and enjoy the government’s full support in their business endeavours. The effect was immediately felt through the influx of blockchain companies which have decided to launch offices in Malta, including the world’s leading crypto companies Binance and OKEx.
