Malta rolls out the welcome mat for blockchain businesses

AvatarPele FindsonAugust 18, 2018
Blockchain welcome mat


A growing number of blockchain businesses are making the move to Malta on the back of recent regulatory and legislative changes in the European nation.

The Maltese Parliament passed three bills into law last month, establishing the first regulatory framework for blockchain, crypto and Distributed Ledger Technology (DLT).

It’s one of the first countries in the world to incorporate a national strategy based on blockchain technology.

The changes have seen the archipelago, which is made up of three islands situated between Sicily and the North African coast become a “blockchain island”.

“Malta is the ideal place for investment, businesses to locate, and get involved in this space,” DigitalX President Neel Krishnan said.Click To Tweet

Binance, the world’s largest crypto exchange, moved its headquarters from Hong Kong to Malta earlier this year.

The move prompted the country’s Prime Minister Joseph Muscat to tweet a message of welcome to Binance, making his friendly stance towards blockchain clear.

Several cryptocurrency exchanges, including OKEx and BitBay, have made the move too.

And in May, Malta’s Transport Minister Ian Borg announced the country had partnered with Omnitude – a multi-enterprise blockchain middleware platform – to improve the Maltese public transport system using DLT.

“Blockchain technology is a key part of our overall national strategy that will see us transform different sectors across government,” Minister Borg said.

This Story first appeared on Coincast TV.

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