Malta-based Exchanges Total Crypto Trade Volume Crosses the $40 Billion Mark, Leading the World
As many of our readers already know, Malta is one of the premier crypto destinations for enthusiasts all over the world— primarily because of its relaxed financial laws and altcoin-centric economic framework.
Not only that, the nation also currently boasts of having the “largest crypto trading volume in the world”.
How Did This Come to Pass?
Over the course of the past year or so, major altcoin exchanges such as Binance and OKEx signed agreements with the Maltese Stock Exchange (MSX) in order to devise regulated security token exchange platforms that would make crypto assets more appealing to the average investor.
By the end of last year, many members of Malta’s political brass announced to the world they were looking to make their country the “crypto-hub of the world.
True to their word, it is now being reported that Maltese crypto exchanges have processed around $40 billion worth of cryptocurrencies till December 2018— a figure that is nearly twice as much as that of the United States.
One of the main reasons why the small European country has been able to achieve this level of success within such a short period of time is because of its “crypto-friendly regulatory atmosphere,” which has allowed a whole host of exchanges to come and set up base within the island nation.
A few months back, Malta’s prime minister (Joseph Muscat) and finance minister (Silvio Schembri) went on record to say that cryptocurrencies were the “future of money” and that once the blockchain industry peaks, their country would be at the center of all the action.
Last but not least, joining Malta, Hong Kong and the US in the top-5 most crypto friendly nations list is Samoa— a country where digital assets have become immensely popular within a very short span of time.