Fifth Largest Crypto Exchange ZB.com Looks to Malta For Blockchain Business Plans

Fifth Largest Crypto Exchange Looking to do Blockchain Business in Malta

As Malta’s friendly approach and acceptance of cryptocurrencies and blockchain is being projected across the globe, several endeavours have since emerged for the island. The next to onboard Malta’s goal of heightening real uses of blockchain technology and cryptocurrencies as well as the fourth firm to do so, is supposedly the fifth largest cryptocurrency exchange to date, which is none other than ZB.com.

As per the claims made, ZB.com (or Zillion Bits AG) plans to launch its crypto exchange in Malta, with a head office for the island situated in St Julians. Binance was first to make the announcement of its partnership with Malta, which was followed by other leads, including the likes of OKEx and DQR thus far.

The news was revealed via a tweet by none other than Maltese Parliamentary Secretary for the Digital Economy and Innovation division, Silvio Schembri. Not only is Schembri fond of yet another established relationship, but he has also hinted out that ZB.com is contributing $20 million over the course of three years and their partnership will result in “employing over 150 people”.

Co-Founder of ZB.com, Jimmy Zhao flaunts Malta for being the “world’s most progressive and forward-thinking nation in DLT,” expressing immense excitement in being “part of the Blockchain Island.” Moving forward, Zhao remains assertive that the set goals will be effectively executed, with “live operations” arriving shortly.

Similarly, CEO of Binance, Changpeng Zhao has previously made aware of Malta’s ongoing commitment in helping develop the blockchain and crypto sector. This was allegedly witnessed during his conversation with the Maltese government, which evidently revolved around its crypto exchange being launched on the island.

Malta is currently undergoing its last stages in laws to ensure appropriate use of blockchain and cryptocurrency and that fair regulation is implemented. Three bills to date have been proposed, which detail how ICOs will be categorized and conducted, cryptocurrency exchanges looking to establish in Malta and the overall blockchain industry.

For the time being, none of the partnerships have successfully opened any of the offices and such signs will not be present until October 1st, 2018, reports CCN.

At the rate Malta is scoring partnerships, it wouldn’t be a surprise if it becomes the leader within the blockchain sector. What is your take on this? Will the Maltese government be fair when finalizing the three pending bills?