Binance, one of the largest cryptocurrency exchanges in the world, is backing the Malta Stock Exchange Fintech Accelerator Program. An exact amount of funding was not provided.
The “MSX Fintech Accelerator” will promote an ecosystem that supports and mentors Fintech startups including those geared towards crypto. Reportedly the program has signed up Thomas Reuters as a mentor. The Malta Stock Exchange, will offer access to business services and facilities including in-house accounting services and payroll, as well as office space, and more.
Malta is home to three cryptocurrency exchanges as the EU country has sought to embrace blockchain innovation. While other jurisdictions have dithered, Malta has worked hard to emphasize their crypto friendly ecosystem having updated securities law to enable initial coin offerings and DLT services.
Binance said they moved operations to Malta precisely because it has demonstrated “its progressive approach to supporting and developing the crypto and blockchain industry.”
“Malta is creating a safe and legislated environment for the industry to become reputable, attracting companies like ours and many others. The Malta Stock Exchange reflects these values, providing the infrastructure for entrepreneurs and start-ups to flourish in what is otherwise a highly competitive industry.”
The Chairman of the Malta Stock Exchange Joseph Portelli said it was clear that Malta was becoming a center for excellence in both Fintech and blockchain.
