ZB Crypto Exchange To Launch Operations In Malta, The Blockchain Island
Another crypto exchange is about to join the growing list of the crypto and blockchain firms in Malta. The exchange is joining the many other exchanges and crypto companies that have set base in Malta, a country that now considers itself as ‘the Blockchain Island.’
ZB.com is going to start its operations in Europe by establishing a new exchange in Malta. This exchange plans to open its offices in St Julian, a city that brands itself as the heart of all business operations in Malta. ZB.com which is considered as currently the fifth largest cryptocurrency exchange is joining the likes of OKEx, DQR and Binance, which already have opened their centers in the country.
The exchange plans to start initially as a crypto to crypto company, but is looking forward to progress to a fiat to crypto exchange after some time. It will become the third exchange offering this kind of proposition after Bitpay and Binance.
ZB.com co-founder, Jimmy Zhao praised Malta as the world’s most progressive and forward-thinking country in crypto, DLT and Fintech. He said that his company is excited to join the others already there and be part of the Blockchain Island. He further affirmed that the company will be in a position to launch and announce its live operations soon.
As of the moment, the VFA Act in Malta has created an enabling environment to many international cryptocurrencies and fintech companies. These firms include OKex and Binance. Malta has gone ahead of many other nations around the world that are still grappling with the stance they should take on cryptocurrencies and Initial Coin Offerings (ICO). Despite the country’s less strict stance on cryptocurrencies, there is still no tangible exchange that has established its business fully in the country as the laws are still in their consultation stage. These laws are set to come into effect as from October 1 2018.
Zhao has just a few weeks ago been invited by his partners in Malta and has even had the opportunity to meet some officials from the country’s government to talk about the company’s business operations. He noted that the Maltese government is keen on establishing a niche for the crypto industry and has shown commitment to support this industry.
According to Coinmarketcap data, ZB.com daily trading volume is valued at approximately $400 million. Zb.com proprietary technology also provides support to a few other top of the range exchanges like EXX.com