Malta Makes Strides Towards Blockchain Development

Malta Works With Binance to Develop Blockchain Industry

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The island of Malta has once again received a significant boost from Binance towards the development of its blockchain industry. Binance, a major cryptocurrency exchange platform, has just announced it is throwing its support behind Malta’s new program- MSX Fintech Accelerator. News of Binance support hit the public through Malta’s stock exchange tweeter account.

MSX Fintech Accelerator Malta’s new program has been launched to offer support to fintech startups and entrepreneurs on the Island. The entrepreneur and fintech startups have a lot to gain and will be receiving other services from Malta’s MSX Fintech accelerator program. Some of the support services they will get from the program are office/conference space, in-house accounting and payroll, training centre, and communication services. In addition to the services, program participants will be mentored by professionals from well-established organizations. Among the many mentors who have already joined the program is Thomson Reuters.

MSX Fintech accelerator  program is open to other participants in Malta

According to Malta Stock Exchange chair Joseph Portelli, Malta’s program is open to accepting entities the world over. Through the exchange, the organizations can bring in their products and services to entrepreneurs in Malta. Further, the organizations will benefit from Malta’s readymade solutions. In addition to gaining from MSX Fintech accelerator program, organizations will gain from Malta’s favourable crypto regulations. While expressing their response to Malta’s new program, Binance said;

“In this competitive industry, Malta has made huge strides in offering a conducive environment for blockchain and crypto companies. Furthermore, the Island is creating a conducive environment for not only crypto exchanges platform but also for blockchain startup. And it is for this reason that Binance made a move to Malta. In addition to above, Malta’s Stock exchange reflects all of the above values among others.”

Through providing the infrastructure and working towards developing a conducive environment for tech startups, Malta is attracting more companies. Besides Malta having a favourable environment for blockchain companies several other states have followed in its footsteps. They are San Marino, Gibraltar, Liechtenstein and Bermuda.

Apart from Malta’s MSX Fintech accelerator program, Binance has also made a huge investment in Malta’s blockchain powered voting platform chiliZ. Although the amount was not disclosed, it seems Binance has made a significant investment in chiliZ. Binance seems  committed to developing the blockchain ecosystem in Malta ever since it was reported that intends to move there.

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