The major crypto trading platform Binance (in terms of trading volume) has reportedly opened an account with a bank in Malta.
According to the news reports, with this move, the company is coming closer to their plans to launch fiat-crypto deposits and withdrawals, which is believed to help new investors enter the segment among other features.
The founder and CEO of the platform Changpeng Zhao stated that this account is a milestone beginning from the announcement of the business relocation to Malta. In addition, the company is said to be in talks with local equities stock exchange regarding business cooperation.
For reference, Malta is believed to be one of the best places for blockchain companies dealing with cryptos amid flexible and loyal local legislation and regulations. In particular, many companies moved to friendly Malta this March.
At the same time, the company spokesperson disposed rumours that Binance acquired an island for the blockchain-friendly environment, as reported Cointelegraph citing Changpeng Zhao.
“Conceptually it’s definitely possible, but it’s not... [an] easy feat, establishing a company is already hard enough,” said CEO, adding "Binance is now working on developing a decentralized exchange, which is currently a big, “high priority” project"