OKEx is moving its operations to Malta.

Following in Binance’s footsteps, OKEx another top 5 crypto exchange, has set its intentions to setup operations in Malta.

Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri said that the OKEx announcement is a certificate of trust in Malta. “The fact that Malta is at the forefront in launching a regulatory framework that regulates this sector by means of setting up an authority, in itself has attracted the interest of global companies such as Binance and OKEx”, added Silvio Schembri.

“This is just the start. Other companies will soon establish their operations in Malta”, said Silvio Schembri.

OKEx is an established Crytpo exchange with millions of customers in over 100 countries and commands a daily trade volume of over $1 Billion.  The government is expecting to provide more work opportunities in this growing industry.

This positive news will continue to place Malta as a leading jurisdiction for Blockchain companies to embark their business on this small EU state. The Maltese government has already stated that many blockchain use companies are opting to transfer/open their companies in Malta.

Advantages Malta is offering Blockchain companies.

Recently the Maltese government has been vocal about the importance blockchain technology and how Cryptocurrencies will transform the fundamental idea of a currency. In a speech, Malta’s Prime Minister is foreseeing cryptocurrency to become the “future of money”. During a trip to Australia, Malta’s Prime Minister Joseph Muscat announced Malta’s plans to regulate Distributed Ledger Technologies, hence encouraging entrepreneurs to consider opening up shop in Malta. 

Last February, Parliamentary Secretary Silvio Schembri announced that the government is set to launch an authority focused on regulating companies using the blockchain technology.  

Since the DLT industry is rapidly developing around the world, many creators are developing innovative blockchain based technologies. Even so, significant established corporations such as Kodak are shifting their business to using decentralised systems.  

The Maltese government is actively seeking to attract reputable companies to the Maltese shores. OKEx will join Binance who recently relocated their operations to Malta.

E&S Group is a leading law firm offering various services to ICOs and Blockchain companies. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

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