Cryptocurrency Exchange Firm, Bleutrade, set to begin operations in Malta, Mediterranean
Bleutrade is a Brazilian cryptocurrency exchange firm established in March 2014. The company’s main operation is providing a platform that allows for trading a wide selection of cryptocurrencies totalling up to at least 55 cryptocurrencies.
Very recently, the Latin American company made an announcement; extending their business and setting foot in the Mediterranean, Malta Island. Malta is speculated to be a very conducive environment for breeding crypto exchanges due to its dense population, ease of opening and operating new blockchain-related companies and need for fin-tech specialists.
On July 4th, a local media company in Malta reported that parliament had passed bills that would soon pass as laws. These were ‘Digital Innovation Authority Act, Innovative Technological Arrangement Act and Virtual Financial Asset’s Act’ which all tend towards providing legal certainty to cryptocurrencies as articulated by the Junior Financial Services’ Minister.
Marlos Jennis who is in charge of International Relations in Bleutrade confirmed partnering with firms in Malta and holding meetings with government in relation to the aforementioned. Joseph Muscats, Malta’s Prime Minister Remarks,
“we will be the global hub for market leaders in the crypto sector”
saw some crypto exchanges opening its doors in Malta. Such firms include; BitBay, Binance, OKEx and now Bleutrade. This is one step towards the ultimate success of the cryptocurrencies as crypto is now somewhat getting the recognition and legislation required to make it a widely recognized currency. However, most currency regulators have not yet embraced and adopted the virtual currency a trend which will soon change trail-blazed by Malta hopefully trickle down to the whole world.
Bleutrade is planning on venturing into fiat currency which is now an emerging trend with crypto exchanges. At the moment, Bleutrade is yet to allow trading dollars, euros and other real currency but currently is working with BitRecife which allows trade of crypto without mining charges.
Kick-starting operations in Malta by Bleutrade is a move towards the right direction and a signal for growth of Bleutrade as a crypto exchange firm and Malta as the leading crypto hub the world over.