London-based YOVO, which claims to be the first mobile phone network built on the Blockchain, has chosen Malta as its new global headquarters.
The new headquarters will be home to 30 team members at opening, with €20m of investment.
"The world’s most innovative mobile network is proud to call Malta, the global leader in Blockchain, its home,” Richard Skaife, CEO & Co-founder of YOVO, commented. “We shall serve millions of digital money customers with mobile service from our Malta HQ and be an active part of the broader Blockchain community that’s growing daily on Blockchain island.
YOVO will be based on the Stellar Blockchain, the fastest protocol for building financial products that connect people everywhere.
The alpha release of YOVO GO, a global product to manage and pay for mobile service using cryptocurrency, will be released in June. YOVO users can earn and spend crypto on mobile service - with 500+ mobile network partners in over 130 countries at launch. It aims to increase to more than 200 countries in the next 12 months.
Junior Minister for Financial Services, Digital Economy and Innovation Silvio Schembri expressed his satisfaction over YOVO’s decision.
"It is evident that operators within this field are looking for legal certainty and that is what we, as a Government, intend to do,” he said, quoting statistics published today by 99Bitcoin which put Malta in first place as the friendliest country in the Blockchain sphere.