In another boost to Malta’s bid to become the ‘blockchain island’, another well-known cryptocurrency exchange is heading to Maltese shores. ZB.com has just made public its intentions to relocate its centre of operations to Malta, following in the footsteps of industry leaders such as Binance and Bitbay.
Co-founder of ZB.com, Jimmy Zhao said:
“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. We are confident we will be able to announce our live operations soon.” He added, “You quickly realize Malta’s commitment to building and supporting the crypto ecosystem.”
Malta’s Parliamentary Secretary for Digital Economy and Innovation, Silvio Schembri said that the recent news is just another example of why Malta is quickly cementing its position as the global hub for blockchain and cryptocurrency service providers. In a tweet regarding the news, Schembri said:
“More blockchain business to Malta. Welcome to the #blockchainIsland… Looking forward for your investment of over 20M in the first 3 years and employing over 150 people.”
Whilst many countries have been reluctant to develop regulations or legislation in favour of the booming industry, Malta has been at the forefront of efforts to create a legal framework that both protects and supports stakeholders. The EU country recently passed three bills including the Virtual Financial Assets Act that is due to be implemented into law by October 1st 2010. This makes them the first country in the world to create such laws and has been a highly attractive incentive for a range of businesses operating in the global market.
ZB.com is a crypto to crypto exchange and it now joins other big names such as OKEx, Binance, Bitay, and DQR in making Malta, the blockchain island, home.
If you would like to learn more about Malta’s progressive stance on ICOs and blockchain and what E&S Group are doing please follow this link.