Malta has been vital in a number of conquests throughout history, with some of history’s most notable conquerors having passed through the Island. The latest conqueror on a mission to take over the world has decided to use Malta as an international base, thanks to the new blockchain regulations that will finally go live tomorrow. Bittrex is one of the largest crypto exchanges in America, but under its current licensing in the country it can’t operate outside of the country. This has led it to search for a new home for its international operations and Malta has won the race.
Malta is the self-proclaimed Blockchain Island and is strategically located in the heart of the Mediterranean. Back in July, Malta passed three crypto-friendly bills into law, and they finally become live laws tomorrow – the first day of the Malta Blockchain Summit. The country’s crypto and blockchain friendly stance have led companies operating in the industry to flock to the island, so it’s now home to industry goliaths such as Binance, OKEx, and BitStarz. Bittrex will make a wonderful addition to the blockchain industry on the island and its employees will no doubt love the Mediterranean lifestyle.
Say Goodbye to Listing Fees
As it launches its new international crypto exchange, Bittrex has also updated its listing process. The platform already boasts more than 200 cryptos that are available for trading, but it wants other projects to be able to join in the fun. The new listing process will see the end of its listing fees, meaning projects don’t need to fork over a crazy amount of money to get listed. Interestingly, Coinbase and Binance recently made the same change – this looks like it’s set to be a common feature amongst all crypto exchanges by the end of 2019.
Adhering to Malta’s Pioneering Standards
Bittrex is set to follow Malta’s standards for a number of aspects, ranging from anti-money laundering (AML) protocols to token listing procedures. Under these new regulations, it will quickly become a leading name that other crypto exchanges can look up to and strive to become.
This bold, fresh move from Bittrex highlights the exchange’s desire to become a major international crypto exchange. Billions of dollars worth of cryptos change hands on a daily basis, and Bittrex wants to get involved. With the Malta Blockchain Summit coming up, we are bound to see more developments from this new expansion and possibly even a live demo, so stay tuned.