The world’s largest cryptocurrency exchange is to help the Malta Stock Exchange support fintech startups and entrepreneurs.
Binance will work with the Malta Stock Exchange (MSE) to develop the MSX FinTech Accelerator Programme, which will help startups in the sector access professional business services and facilities and provide them with access to mentors who can help match budding companies to global leaders in the sector.
The accelerator programme has also signed up with other exchanges, including Thomson Reuters, to serve as mentors to local startups.
As programme sponsor, the Malta Stock Exchange will offer start-ups access to in-house accounting services and payroll, office space, state of the art communication, conference rooms and a training centre.
The program seeks to capitalize on Malta’s growing prominence in the Fintech and crypto sphere, with the government actively promoting the country as the ‘Blockchain island’ to overseas investors.
MSE Chairman Joseph Portelli was quoted as saying the project will help bring products to the market faster and is offered to both foreign and local organizations. Binance confirmed the support, praising MSE’s provisions to help startups grow “in what is otherwise a highly competitive industry”. He said,
“It is clear that Malta is becoming a Fintech and blockchain center of excellence and we want to allow local and foreign companies the ability to bring their ideas to the market faster. This programme offers foreign entrepreneurs easy access to a readymade solution at one of Malta’s most prestigious addresses – the Malta Stock Exchange.”
Binance, which is the world’s largest cryptocurrency exchange by trading volume, last arch announced that it would be opening a Malta office. A Maltese base – and bank account – should enable the company to start offering Euro trading pairs, with its CEO having said he wants Binance to allow users to exchange traditional, fiat currencies for cryptocurrencies directly.
To attract crypto companies from across the world, Malta has proposed regulatory frameworks for this hostile sector. This proved to a huge success, as within days, Binance announced its plans to move the exchange’s base to Malta. Many other blockchain firms followed Binance to the Mediterranean island, which is now home to two of the top five crypto exchanges.
KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
