Binance, the world’s largest cryptocurrency exchange by traded value, is planning to open an office in Malta, said founder Zhao Changpeng.
Speaking to Bloomberg, Binance said it will soon start a “fiat-to-crypto exchange” in Malta, and is close to securing a deal with local banks that can provide access to deposits and withdrawals.
“We are very confident we can announce a banking partnership there soon,” Mr Zhao said. “Malta is very progressive when it comes to crypto and fintech.”
Binance was founded last year in Hong Kong. The company had an office in Japan and was trying to get a license to operate, but decided to remove its staff after Japan’s Financial Services Agency issued a warning to the venue for operating without approval, Mr Zhao said.
Mr Zhao said he had recently been invited by the Maltese government to review an upcoming bill that was pro-crypto businesses. The government has held several public consultations on regulating virtual currencies, token sales and crypto-exchanges, and plans for a Malta Digital Innovation Authority that will certify and regulate blockchain-based businesses and their operations were unveiled last month.