Binance to Power Malta Stock Exchange’s Startup AcceleratorJune 20, 2018
The Malta Stock Exchange announced that it will enter a partnership with Binance to open its fintech startup accelerator, offering advantages to any initiatives based in the island.
Malta has been busy over the last year in its attempts to make a name for itself in the blockchain and cryptocurrency space. As a nation that offers powerful tax incentives and legal frameworks that are “blockchain-friendly,” it did quite well for itself to catch the attention of Binance.
Now, according to the Malta Stock Exchange, Binance is partnering with it to create the MSX FinTech Accelerator Programme. This program will be a startup accelerator that, as the name suggests, will focus chiefly on fintech and blockchain projects.
The accelerator aims to give startups the tools they need—including accounting services and even office space—to boost their ability to compete with other projects around the globe.
“It is clear that Malta is becoming a fintech and blockchain center of excellence and we want to allow local and foreign companies the ability to bring their ideas to the market faster. This programme offers foreign entrepreneurs easy access to a ready-made solution at one of Malta’s most prestigious addresses, the Malta Stock Exchange,” said Joseph Portelli, MSX’s chairman.
The Maltese blockchain revolution may have been just what Europe needed to help make cryptocurrencies more accessible to people who want to spend their Euros in exchanges.
Because of its low taxes and favorable regulatory environment—as well as its access to the Euro due to its membership in the Eurozone—Binance chose this base of operations to unveil its Euro-cryptocurrency trading pairs.
The future looks quite positive for the exchange, which previously centered its identity around being a solely crypto-to-crypto venture. Binance isn’t done yet, either, as it chose another base of operations in the tax-friendly territory of Jersey Island on the English Channel.
Zhao Changpeng, the company’s CEO, all but revealed that Binance has plans to unveil GBP pairs for cryptocurrencies in the future with this move. Doing so from such an environment gives it just what it needs to offer advantageous pricing in comparison to exchanges based in London or other parts of the UK.
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