Two cryptocurrency exchanges, Bleutrade and BeQuant, revealed their plans to set up operations in Malta in separate announcements this week, following in the footsteps of several other exchanges such as Binance, OKEx and Bitbay who announced plans to move to Malta earlier this year.
Bleutrade, a Brazilian cryptocurrency exchange platform established in 2014, allows for the trading of a wide selection of cryptocurrencies. Bleutrade is the first Latin American-based exchange to make a move to the Blockchain Island of Malta. Felipe Melo, CEO of Bleutrade, commented:
“We went through a few countries and chose Malta mainly for legal security, which will give us more freedom when starting new services. Besides in the island, we find human resources with great potential.”
Bleutrade was not the only exchange to make such an announcement this week. London-based cryptocurrency exchange BeQuant also announced that they have launched operations in Malta and have opened up a new office on the island. BeQuant’s CEO, George Zarya, said:
“With challenges around Brexit causing the UK regulator to delay any controls on cryptocurrencies, many businesses in the sector are looking for ways to establish themselves as a reliable source for trading and investment. Malta has been pioneering the future of crypto, making it a crypto-friendly jurisdication with due regulatory oversight that is so needed. Our work with the Maltese government has already helped to build BeQuant’s reputation as a trusted exchange in the region.”
The acknowledgement that cryptocurrency regulation is increasingly important has led Malta to become a pioneer in establishing a legal framework and fostering a safe regulatory environment for the industry, allowing cryptocurrency exchanges to establish themselves as well-regulated businesses.
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